Iran Re-closes Hormuz Strait as US-Iran Tensions Escalate

Iran re-closed the strategic Strait of Hormuz on Sunday, refusing to reopen the crucial maritime chokepoint until the United States ends its blockade of Iranian ports. The move came after a brief reopening that had sent global oil prices plummeting.

A two-week ceasefire is set to end on Wednesday unless renewed. Despite some 'progress' in recent talks between Iran and the US, Iran's parliament speaker Mohammad Bagher Ghalibaf stated they remain 'far from final discussion' on resolving the conflict.

The Strait of Hormuz, through which 20% of the world's oil and liquefied natural gas transits, became flashpoint when Iran warned vessels crossing without permission would be 'targeted.' Recent incidents include Revolutionary Guards firing at tankers and threatening to destroy vessels attempting to flee.

As global oil prices react to these developments, Nigeria's oil-dependent economy faces potential impacts from this ongoing geopolitical crisis. Egypt and Pakistan are mediating, hoping to secure a final agreement in the coming days as the region braces for further escalation.

SOURCE: https://www.channelstv.com/2026/04/19/strait-of-hormuz-closed-as-iranus-fail-to-reach-peace-deal/