Tankers U-Turn in Persian Gulf as Iran Closes Hormuz Again

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Short Term
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...and it's closed. Iran's Islamic Revolutionary Guard Corps declared Saturday that control of the strait has "returned to its previous state," walking back a brief opening announced Friday and directly contradicting a claim from President Donald Trump that the world's most critical oil chokepoint was fully open for business. Tehran's joint military command said the strait is now under "strict management and control of the armed forces" and accused the U.S. of "piracy" -- a reference to Washington's ongoing naval blockade of Iranian ports, which…

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Original article published by OilPrice.com on April 18, 2026.
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