Reported about 14 hours ago
The Strait of Hormuz, a vital waterway connecting the Persian Gulf to the Gulf of Oman, is crucial for global oil shipping, with about 20 million barrels flowing daily, constituting one-fifth of daily global production. Recent tensions due to US and Israeli actions against Iran have raised concerns over possible disruptions, which could significantly spike oil prices. While the US military presence deters potential Iranian blockades, the economic repercussions of any conflict in this chokepoint would adversely impact global economies, particularly in Asia.
Source: YAHOO