U.S. Hormuz Blockade Threatens Global Oil Supply

U.S. military announced a blockade of Strait of Hormuz, halting ship movements to and from Iranian ports at 10 a.m. ET Monday.
The blockade would stop roughly two million barrels of Iranian oil per day from reaching global markets, tightening worldwide supply.
Kremlin spokesman Dmitry Peskov warned the action will likely have a negative impact on international markets, stating high certainty of adverse effects.
He declined further comment, noting many details of the U.S. plan remain unclear.