If Iran blocked the strait, oil prices could shoot as high as $120-$130 per, at least temporarily, said Homayoun Falakshahi, head of crude oil analyst at Kpler, in an online webinar Sunday.

China, the largest buyer of Iranian oil, sourced 5.4 million barrels per day through the Strait of Hormuz in the first quarter this year, while India and South Korea imported 2.1 million and 1.7 ...

What is the Strait of Hormuz? The Strait is narrow, stretching roughly 31 miles at its widest point. Iran is on its north bank opposite Oman and the United Arab Emirates (UAE).

In May 2019, four vessels – including two Saudi oil tankers – were attacked off the UAE coast, outside the Strait of Hormuz. Three vessels, two in 2023 and one in 2024, were seized by Iran ...

Iran’s Parliament voted Sunday to close the Strait of Hormuz, the narrow sea passage out of the Persian Gulf. If the regime does this, it will be consistent with Iran’s recent behavior, which ...

The Strait of Hormuz is between Oman and Iran, which boasts a fleet of fast-attack boats and thousands of naval mines as well as missiles that it could use to make the strait impassable, at least ...

But Iran can make it hugely expensive, and dangerous, for the U.S. Navy to have to conduct what would most likely be a weekslong mine-clearing operation in the Strait of Hormuz, according to one ...

The Strait of Hormuz is between Oman and Iran, which boasts a fleet of fast-attack boats and thousands of naval mines as well as missiles that it could use to make the strait impassable, ...

The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint due to the large volumes of crude that ...

Closing the Strait of Hormuz would send oil prices massively higher — at least at first. If Iran blocked the strait, oil prices could shoot as high as $120-$130 per barrel, at least temporarily ...