[US-Israel, Iran War Day #184] Hormuz Crisis Adds $330 Billion to Global Fossil Fuel Import Costs

In Brief…

• Iranian Deputy Foreign Minister Kazem Gharibabadi says Iran and Oman reached an understanding on the Strait of Hormuz, but it will not take effect until the US fulfills its commitments under the Islamabad MoU.
• Iranian President Masoud Pezeshkian said implementing the Islamabad MoU with domestic unity could help Iran overcome its problems and prevent the US and Israel from destabilizing the region.
• White House Deputy Chief of Staff Stephen Miller said the US had achieved historic military gains against Iran, claiming its navy, air force, radars and military command structure had been destroyed.

This is a developing story that HO1 will continue to monitor.
Check back for updates.

Crude flows through Hormuz average 3.8 million bpd, tanker-monitoring service says