look news india
Former US President Donald Trump has made a big claim amid the ongoing tension over the Strait of Hormuz. Trump says that this most important sea route for the world is completely open and safe for the movement of commercial ships. However, contrary to his claim, the situation on the ground remains extremely tense. A series of fresh air strikes have started between the US and Iran in the region, due to which clouds of crisis are once again looming over the global energy market and international trade routes.
Tension increased due to America’s new attacks
Despite Trump’s claims, the Pentagon has confirmed that the US military has carried out new airstrikes targeting Iran-backed military targets near Hormuz. The purpose of these attacks is said to be to secure the American military presence in the region and to curb Iranian aggression. At the same time, Tehran has called it a violation of its sovereignty and termed it a ‘dangerous step’. Experts believe that Trump’s statement may be an attempt to keep domestic politics and international markets calm, but in ground reality the military conflict between the two countries is deepening.
What will be the impact on the global supply chain?
The Strait of Hormuz is the world’s passage through which millions of barrels of oil are supplied every day. If this conflict between America and Iran progresses further, it will have a direct impact on the prices of crude oil. America says it is committed to the safety of ships, but threats made by Iran remain a big headache for global shipping companies. Any increase in oil prices will affect the economy of countries around the world, including India, which depend on this Gulf route for their energy needs.
What is the signal for investors and common man?
Currently the situation around Hormuz is on ‘high alert’. While on one hand America is claiming to secure the route on the basis of military power, on the other hand Iran’s aggressive policy has put the entire region on a powder keg. Investors are being advised to keep an eye on the movements in the energy sector shares and commodity market. It will be important for the common man to see whether the impact of these air strikes results in an increase in the prices of petrol and diesel in the coming days, because instability in the Gulf countries has a direct connection with the pockets of the common public.