The steady flow of Gulf oil to Europe, the US and Asia through the narrow Strait of Hormuz has created the world’s largest oil transit chokepoint.

After decades, the US and Israel launched a major attack on Iran, and Tehran’s ability to disrupt the strait has rattled markets and choked trade.

Oil prices have already spiked and are expected to remain high as conflict threatens supplies.

More than 20 million barrels of crude, condensate and fuels passed through the strait daily last year.

OPEC members Saudi Arabia, Iran, UAE, Kuwait and Iraq export most of their crude via the strait, mainly to Asia.


don@heraldcorp.com