Iran’s parliament has voted to shut down the vital Hormuz shipping channel in retaliation against Donald Trump’s attack on the country, prompting fears of a sharp spike in oil prices that could cause a global recession.
A barrel of Brent crude was selling for about $77 on Friday, having risen by more than 10% since mid-June when Israel’s attack on Iranian nuclear sites prompted missile strikes from Tehran against Tel Aviv.
Blasts were heard in Isfahan after the US bombed Iranian nuclear facilities. Explosions from the direction of the Isfahan nuclear site could be heard in a video posted on social media, and at least one fiery ball illuminated the night sky
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