It’s being reported that Iran’s parliament has just voted to close the crucial strait of Hormuz, through which 20% of all global oil flows.

Here’s more via The Guardian:

Iran’s parliament has reportedly approved the closing of the key strait of Hormuz shipping lane.

Reuters reported Iran’s supreme national security council will make the final decision on the move, which could hamstring global trade by shutting the narrow passage between Iran and Oman.

The decision to close the strait, through which about 20% of global oil and gas demand flows, is not yet final.

However according to Reuters, lawmaker and Revolutionary Guards Commander Esmail Kosari told the Young Journalist Club on Sunday that doing so is on the agenda and “will be done whenever necessary.”

The UK Maritime Trade Operations (UKMTO) said it was assessing the threat to US commercial shipping in the Red Sea and Gulf of Aden, near Iran, as “high”.

Just to give you more context for just how crucial his strait is for oil tanker movement, here’s an animation for you: