Hormuz Strait Tensions Escalate as Iran Threatens Closure, Oil Tankers Reroute to Pakistan

According to Iran's student news agency ISNA, Iranian officials stated on July 15 that the Strait of Hormuz will remain closed until the U.S. accepts Iranian law. Meanwhile, the U.S. military reported striking an oil tanker attempting to reach Iranian ports. Two Iranian crude oil tankers have shifted their destination to Pakistan, likely to avoid U.S. maritime blockade, while Pakistan has begun purchasing spot LNG at four-year-high prices amid the escalating Middle East tensions.
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