President Trump's decision to target three Iranian nuclear sites has escalated concerns over potential conflict in the Middle East. Analysts warn that Iran may respond by attempting to close the Strait of Hormuz, a critical waterway that facilitates over 20% of the world's oil supply. This action could significantly disrupt global trade and trigger surging oil prices, impacting economies worldwide. The strait is strategically important, linking various seas and acting as a vital conduit for oil exports, especially from OPEC members to Asia. Closing it could backfire on Iran by affecting its own oil exports too.
President Donald Trump's unprecedented decision to bomb three Iranian nuclear sites has deepened fears of a widening conflict in the Middle East. Analysts suggest that Iran may retaliate by closing the Strait of Hormuz, a crucial trade route for global oil supply.
The strait of Hormuz, about 33km wide at its narrowest point, is vital for global oil transit, with one-fifth of the world's oil consumption passing through it. Thus, its closure could drastically impact global trade.
Collection
[
|
...
]