The Strait of Hormuz is a crucial maritime corridor for global oil, with approximately 20 million barrels flowing daily. Its narrow width poses risks, especially amid heightened tensions due to the Israel-Iran conflict. While there haven't been significant attacks on shipping recently, increased electronic interference with navigation systems is raising concerns. Shipowners are wary, some enhancing security or altering routes. The potential for disruptions could lead to surges in crude prices, affecting energy importers, particularly in Asia, amid ongoing geopolitical unrest.
At its narrowest point, the Strait of Hormuz is just 33 kilometers wide, with a shipping lane only two miles wide in either direction, making it crowded and perilous.
The conflict between Israel and Iran has renewed focus on security in the Strait of Hormuz, where threats from Iran could impact global oil supplies.
Collection
[
|
...
]