Iran's retaliation could send gas prices soaring — but it might hurt Tehran even more

Main Idea: Iran’s threat to block the Strait of Hormuz could push up U.S. gas prices, but experts say Iran may suffer even more if it follows through.

Key Points:

• Iran’s parliament reportedly backed closing the Strait of Hormuz after U.S. strikes on Iranian nuclear sites, but the final decision is still with Iran’s national security council.
• Experts said a full closure is unlikely because Iran depends on the strait for its own oil exports and could anger key buyers like China.
• The strait is a major global energy route, with about 20% of the world’s oil and large amounts of gas passing through it.
• Analysts warned that even a partial disruption could raise oil and gas prices worldwide and could briefly push Brent crude near $110 a barrel in a severe case.