According to Iran's Mehr News Agency, energy shipments in the southern Strait of Hormuz have plummeted at an unprecedented rate in recent days due to actions taken by the Revolutionary Guard and the Iranian military, as well as the laying of mines within the strait. The shipments have now fallen below 1 million barrels per day. The report claims that this structural supply shock has disrupted market balance and driven up international crude oil prices. The media outlet further states that a series of developments indicate that Iran has complete control over the Strait of Hormuz.
