Three vessels, two in 2023 and one in 2024, were seized by Iran near or in the Strait of Hormuz. Some of the seizures followed U.S. seizures of tankers related to Iran.

Closing the Strait of Hormuz would send oil prices massively higher — at least at first If Iran blocked the strait, oil prices could shoot as high as $120-$130 per barrel, at least temporarily, said ...

Satellite image of the Strait of Hormuz, a strategic maritime choke point with Iran situated at the top with Qeshm Island and the United Arab Emirates to the South. Imaged 24 May 2017.

According to an analysis by Emperador, any disruption in energy exports through this strategic checkpoint may result in a 25% to 40% rise in crude oil prices. Consequently, the global bitumen market ...

What is the Strait of Hormuz? The Strait is narrow, stretching roughly 31 miles at its widest point. Iran is on its north bank opposite Oman and the United Arab Emirates (UAE).

Now, concerns over the Strait of Hormuz are once again at an all-time high. Iran controls the Northern side of the Strait of Hormuz, a passage which sees significant global trade pass through daily.

China, the largest buyer of Iranian oil, sourced 5.4 million barrels per day through the Strait of Hormuz in the first quarter this year, while India and South Korea imported 2.1 million and 1.7 ...