In a bold move that could shake up global energy markets, Iran's parliament has reportedly given the green light to a proposal to close the Strait of Hormuz, a vital oil shipping route. This decision is a direct reaction to recent US military strikes on Iranian nuclear facilities, marking a troubling escalation in regional tensions. While the parliamentary vote highlights Iran's strong disapproval of the strikes, the ultimate decision to implement the closure lies with Iran's Supreme National Security Council, leaving the world in a state of uncertainty.

The Strait of Hormuz is a narrow yet incredibly strategic waterway, through which about 20% of the world's daily oil consumption and a significant chunk of global liquefied natural gas (LNG) exports flow. Closing it could severely disrupt global supply chains, leading to skyrocketing oil prices and widespread economic instability. Countries that heavily depend on Gulf oil, especially in Asia like India and China, would likely face the most immediate and severe repercussions, including potential fuel shortages and inflationary pressures.

Analysts are keeping a close eye on the Supreme National Security Council's decision, as a full closure, while threatened many times before, has never actually been carried out by Iran. Such a move would not only provoke a strong international military response, with the US and its allies committed to ensuring freedom of navigation, but it would also cause significant economic harm to Iran itself, which relies on the strait for its own oil exports. Given the unprecedented nature of the current geopolitical climate, however, the possibility can't be entirely ruled out.

As the situation develops, the global community is increasingly worried about further escalation in the Middle East. The potential closure of the Strait of Hormuz poses a serious threat to international trade and energy security. Stakeholders around the world are now strategizing for possible contingencies, underscoring the volatile nature of geopolitical events on the delicate balance of global stability.