#伊朗在霍尔木兹海峡布设水雷 Iran has laid mines and blocked the Strait of Hormuz. How much does this impact the global economy?

As one of Iran's only concentrated means of countering the United States, Iran's blockade of the Strait of Hormuz has been escalating. How significant will this blockade be to the entire world?

The Strait of Hormuz is a crucial strategic energy corridor, with about one-fifth of the world's oil exports passing through it daily. But now, after Iran's blockade, daily crude oil output has decreased by over 3 million tons. It’s important to understand that a reduction of over 3 million tons per day adds up to over 1 billion tons a year, which can severely drag down the global economy.
Although oil prices have temporarily plummeted, if the blockade continues, a future rise in oil prices is highly likely. Rising oil prices can trigger economic crises, and history has many precedents for this. No matter how severe Iran's setbacks are, using a blockade of the strait is a classic way to drag the world into chaos.
During the Iran-Iraq War in the 1980s, both Iran and Iraq engaged in ship attacks, targeting ships from all countries passing through the strait, regardless of nationality or type. What was the result? It led to U.S. naval escort missions and large-scale conflicts between the U.S. Navy and Iran. After several clashes, Iran’s main surface warships were all sunk by the U.S. Navy. Therefore, blocking the Strait of Hormuz would serve as an excellent pretext for the U.S. to further escalate conflicts.
The war has already lasted ten days. The clear goal of the U.S. and Israel is to prolong the conflict as much as possible, turning it into a meat grinder that drains Iran’s strength, and even to seize the opportunity to overthrow the Iranian regime and strip Iran of its nuclear capabilities. Before achieving these two key objectives, it’s unlikely that the U.S. and Israel will voluntarily cease hostilities or reduce the intensity of the war. At this point, Iran’s continued blockade and economic disruption provide the perfect excuse for the U.S. and Israel to attack the Iranian navy, or even target Iran’s oil export facilities. Globally, few people would oppose such actions. After all, except for a few self-sufficient oil-producing countries, most nations would become direct victims of Iran’s blockade of the strait.