The Strait of Hormuz, a major oil export route, has come into renewed focus after the United States and Israel attacked Iran on Saturday (February 28), in a development that could lead to a closure of the sea channel for days.
The Strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond. It is 21 miles (33 km) wide at its narrowest point, with the shipping lane just 2 miles (3 km) wide in either direction.
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About a fifth of the world's total oil consumption passes through the Strait. More than 20 million barrels of crude, condensate and fuels passed through the strait daily last year on average, data from analytics firm Vortexa showed.
Oil prices continued to climb on Wednesday (March 4) as Tehran attacked ships and energy facilities, closing navigation through the Strait of Hormuz, forcing production stoppages in countries from Qatar to Iraq and halting exports.
The Strait is under the "full control" of Iran's navy, its Revolutionary Guards said on Wednesday, warning vessels not to transit the waterway, according to the semi-official Fars news agency. Its claim of having struck 10 tankers that ignored warnings could not be independently verified.
U.S. President Donald Trump said the U.S. Navy could begin escorting oil tankers through the Strait if necessary. Ship owners and analysts were uncertain that would be enough to stop rising prices or whether the U.S. could spare vessels to do so without exposing them to potential attacks.
Trump risks political fallout if higher energy prices persist, as his Republican Party tries to retain power in the congressional midterm elections in November.
