Iranian lawmakers have been backing calls to close the Strait of Hormuz, a vital global trade route, where more than a fifth of the world’s oil supply passes every day.
Tehran has in the past threatened to close the strait, which would restrict trade and impact global oil prices, but has never followed through on the threat.
Although there is apparently consensus in Iran's parliament supporting the closure of the strait, the ultimate decision lies with the country's Supreme National Security Council.
Besides Iran, Saudi Arabia, Kuwait, and Iraq also rely on the narrow waterway to get their oil to China and other global markets.
The strait lies between Oman and Iran and links the Persian Gulf to the north with the Gulf of Oman to the south and the Arabian Sea beyond.
It is 33 kilometers wide at its narrowest point, and its shipping lane is just 3 kilometers wide.
As a member of the Organization of the Petroleum Exporting Countries (OPEC), Iran currently produces around 3.3 million barrels per day, and exports over 2 million barrels of oil and fuel daily.
Closing the strait offers Tehran a way to directly pressure the US by triggering a spike in oil prices, which would likely cause immediate inflation, both in the United States and globally.
However, such a move would also be a significant act of economic self-sabotage.
Iran relies on the same route for its own oil exports, and blocking it could prompt Gulf Arab states -- despite their criticism of the Israeli attack -- to enter the fray in order to protect their own strategic and economic interests.
