Iran formally tightens its grip on the Strait of Hormuz, making U.S. military intervention a lost bet for global energy markets The Strait of Hormuz has become the world’s most dangerous chessboard, and Iran just moved its pieces into position. By formally defining administrative supervisory boundaries over this 21-mile-wide maritime choke-point, Tehran has transformed a geographic curiosity into a weapon of economic warfare. Every day, 20 million barrels of crude oil flow through this narrow passage between the Persian Gulf and the Gulf of Oman. That is one-quarter of the entire planet’s energy supply. Iran now demands that all vessels…

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