Iran’s Islamic Revolutionary Guard Corps (IRGC) announced on Saturday afternoon that the strategically vital Strait of Hormuz was closed to all shipping traffic, implicitly threatening to attack any commercial vessel attempting to pass between the Persian Gulf and the Gulf of Oman.

The UK Maritime Trade Operations Agency said on Saturday it has received multiple alerts from ships in the region that the IRGC broadcast radio warnings that passage through the Strait of Hormuz was “not allowed.”

Sources in the trading industry told Reuters that “several tanker owners, oil majors and trading houses had suspended crude oil, fuel and liquefied…

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