Iran's Strait of Hormuz blockade fuels global oil market concerns as Trump admin meets execs

Iran's Strait of Hormuz blockade fuels global oil market concerns as Trump admin meets execs

Jonathan Hunt reports live from London on Iran's aggressive actions in the Strait of Hormuz, leading to a 95% reduction in commercial shipping traffic. Mohamed El-Erian, Gramercy Funds Management Chair, analyzes the global oil market disruption, with crude oil prices soaring. The Trump administration meets with oil executives as international allies like Japan and European nations issue a joint statement, expressing readiness to ensure safe passage through the vital waterway.