Iran orders closure of Strait of Hormuz – putting one-fifth of world’s oil supply at risk | 22 June 2025 | Iran’s parliament has voted to close the Strait of Hormuz, the vital shipping channel through which around 20% of the world’s daily oil flows. The move, which could block $1 billion in oil shipments per day, is likely to send oil prices soaring. It will come into effect pending a final decision by Iran’s Supreme Council. The Supreme Council’s decision must be made by tonight, according to Iran’s state-run Press TV.