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Iran Closes Strait of Hormuz, Energy Crisis Looms

4/15/2026

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Iran Closes Strait
  • On April 12, 2026, Iran reportedly closed the Strait of Hormuz, potentially disrupting energy supplies.
  • The United States and Israel denied the closure, while Prime Minister Keir Starmer criticized U.S. actions and linked them to rising energy bills.
  • South Korea and Italy face higher electricity costs.
  • Canada could gain from the crisis via higher demand for its oil and gas exports, though routes remain uncertain.
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