Overview

• Iran’s parliament approved a nonbinding vote to block the Strait of Hormuz in retaliation for US airstrikes, but the decision now rests with the Supreme National Security Council.
• Oil futures initially fell after Tehran’s first response did not target the strait, yet traders remain unsettled by the prospect of losing about 20 percent of global oil flows.
• AIS tracking showed several tankers rerouting from the Gulf of Oman, reflecting shipping firms’ caution over a potential blockade.
• Goldman Sachs and other analysts forecast Brent crude could jump to between $110 and $130 per barrel if the waterway is sealed.
• Washington has urged China to press Tehran against a shutdown, and Australia faces particular exposure due to limited naval assets and low fuel stockpiles.