Warning comes as 400 million barrels of oil are being released from global reserves during waterway's closure.

The Strait of Hormuz, through which roughly one-fifth of the world's oil and liquefied natural gas typically passes, is virtually shut.

A Strait of Hormuz closure due to U.S.-Iran war hit the oil market hard, but sectors reliant on shipping across economy from metals to farming are vulnerable.

Warning comes as 400 million barrels of oil are being released from global reserves during waterway's closure.

TEHRAN: Iran's military on Wednesday said any ships belonging to the United States, Israel or their allies passing through the strategic Strait of Hormuz will be targeted."Any…

The latest incidents in or near the Strait of Hormuz come shortly after Iran warned the world to prepare for $200 oil prices.