"Iranian authorities carried out live-fire military drills in the corridor, through which about 20 percent of global oil supplies are shipped. The move marked a rare suspension of activity in parts of the strait. It served as a pointed warning about the economic consequences if Washington proceeds with its threats to strike Iran, highlighting how quickly a regional confrontation could spill into global markets."
"The Strait of Hormuz is the world's most critical oil chokepoint. The curved waterway lies between Iran to the north and Oman and the United Arab Emirates to the south. It is roughly 50km (31 miles) wide at its entrance and exit and narrows to about 33km (20 miles) at its tightest point. It forms the only maritime link between the Gulf and the Arabian Sea. Despite its narrow width, the channel accommodates the world's largest crude carriers."
The Strait of Hormuz links the Gulf to the Arabian Sea and carries roughly 20 million barrels of oil each day, representing nearly $500bn in annual energy trade. The waterway lies between Iran to the north and Oman and the United Arab Emirates to the south, narrowing to about 33km at its tightest point while accommodating the world's largest crude carriers. Recent Iranian temporary closures and live-fire drills demonstrated how quickly disruptions could occur. Major US military movements, including the deployment of the USS Gerald R Ford, underscore the potential for regional tensions to affect global energy markets.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]