#strait-of-hormuz

#strait-of-hormuz

The highly unlikely scenario the strait does close could bring recessionary effects to the market.

"We are much more worried about European gas prices than we are about oil prices."

The Strait of Hormuz, deemed the 'world's most important oil transit chokepoint,' is facing heightened tension due to the conflict between Israel and Iran.

The collision of the Adalynn and the Front Eagle oil tankers in the Strait of Hormuz, a crucial oil checkpoint, is considered not security-related according to British security firm Ambrey.

"British maritime security firm Ambrey stated the cause of the incident was not security-related, clarifying that it was purely a navigational mishap, separate from regional conflicts."