U.S. Secretary of State Marco Rubio on Sunday urged China to dissuade Iran from closing the Strait of Hormuz, warning it could severely disrupt global oil supply.
“I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio said on Fox News.
The appeal follows U.S. airstrikes on Iranian nuclear sites and Tehran’s warning that it “reserves all options to defend its sovereignty.” Iranian media reported that parliament backed shutting the strait, but final authority rests with the national security council.
About 20% of global oil transits through the strait, and Rubio called any attempt to block it “economic suicide” for Iran. Analysts warned prices could exceed $100 per barrel if prolonged. Bob McNally, of Rapidan Energy, said, “They could disrupt, in our view, shipping through Hormuz by a lot longer than the market thinks.” He added, “It would not be a cakewalk.”