Strait of Hormuz: Top Iranian official vows to use Strait of Hormuz to attack oil tankers

The threat from Ibrahim Jabari, adviser to the commander of the Islamic Revolutionary Guard Corps, comes as most shipping companies have stopped sending tankers to the strait after the United States and Israel began launching attacks on Iran on Saturday. Some tankers have already come under attack during the conflict, including one flying a U.S. maritime flag that docked in Bahrain on Monday. It was unclear who attacked the ship.“Not a drop of oil will leave the area,” Jabari said on Iranian television. Iran also said on Saturday it would close the strait, although some ships did pass through the waterway following the U.S. and Israeli attacks. A sharp reduction in tanker traffic through the strait has raised concerns that significantly less oil and gas will reach world markets, driving up the cost of both commodities. Prolonged increases in oil prices could lead to higher gas prices for consumers.