US EditionCan Iran shut down the Strait of Hormuz, set oil prices on fire?
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2 Articles
Can Iran shut down the Strait of Hormuz, set oil prices on fire?
Iran Strait of Hormuz: Iran, which is seeing one of its biggest and deadliest protests since the 1979 Iranian Revolution, has been warned of military and economic action by US President Donald Trump. Such rhetoric, however, risks forcing Iran to use one of its most potent weapons, a blockade of the Strait of Hormuz, which could see oil prices spiral and hit major economies.
To understand why your plethora of gas oil or SP95 is likely to increase, you have to look at a map and spot the Strait of Ormuz. It is a narrow, highly strategic maritime corridor through which nearly a third of the world's oil transported by sea passes. The mechanics are simple but formidable, if Donald Trump decides to tighten sanctions or if the situation becomes military, Iran may threaten to block this vital passage. Hence, the financial m…
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