Zaid Admani

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Let's run through some headlines and let's talk more about the Hormuz blockade.

As of 10 a.m.

Eastern this morning, the U.S.

Navy has officially began a blockade of the Strait of Hormuz, targeting any ships entering or leaving Iranian ports.

It's an interesting turn of events.

First, it was Iran blocking ships.

Now it's the U.S.

military.

So let's get into the details and what it could mean for the global economy and gas prices.

Here's what's important to understand.

This is not like a full-on blockade of the entire strait.

The U.S.

Central Command clarified that ships traveling to and from non-Iranian ports will not be impeded.

The U.S.

military is specifically targeting ships leaving Iranian ports to choke off Iran's economy, which heavily relies on oil exports.

See, one of the biggest leverage that Iran had during the war was the control of the Strait of Hormuz.