Iran War: Traders Expect Widespread Supply Blockages
Edited By WION Video Desk
Published: Mar 16, 2026, 11:45 IST | Updated: Mar 16, 2026, 11:45 IST
US Strikes on Iran's primary oil export hub have increased supply risks. The escalation has set the stage for another week of uncertainty in global oil markets. Late last week, President Donald Trump said that US Forces had attacked Iran's strategic Kharg Island, and warned to hit oil facilities if Iran continues to obstruct shipping in the narrow Strait of Hormuz. Since the war started, traffic through Hormuz has nearly come to a standstill. In response, Iran's supreme leader said that the strait will stay closed for enemy ships as long as the war persists.
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