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Story summary
- U.S. President Donald Trump announced a U.S. Navy blockade in response to disruptions in the Strait of Hormuz.
- The Strait of Hormuz, vital for 20% of global oil trade, has been closed to U.S.-aligned vessels since late February following Operation Epic Fury.
- Energy expert Karen Young warns the blockade could raise costs and worsen a market shortage of 7 million barrels of crude and 4 million barrels of product.
