Iran has created a grave situation and jeopardized global oil supplies with its aggressive behavior, Saudi Minister of State for Foreign Affairs Adel al-Jubeir said on Thursday, adding that the Kingdom was consulting with allies on next steps. "I think the situation is very grave because of the aggressive behavior of Iran," Jubeir told reporters in London. If Iran closed the Strait of Hormuz, it would generate a “very, very strong reaction,” he warned. "When you interfere with international shipping it has an impact on the supply of energy, it has an impact on the price of oil which has an impact on the world economy. It essentially affects almost every person on the globe,” Jubeir added.