Global energy markets are once again watching the Strait of Hormuz as fears grow about a potential closure of this critical oil shipping corridor. Any disruption in this narrow passage between Iran and Oman can ripple through the global economy within hours.
According to data from the U.S. Energy Information Administration (EIA), nearly one fifth of the world’s seaborne crude oil moves…
Why This Narrow Waterway Matters to Your Wallet
When tensions rise around the Strait of Hormuz, oil markets react within minutes.
This narrow maritime corridor connects the Persian Gulf to international waters and carries roughly 20% of global petroleum liquids consumption, according to the U.S. Energy Information Administration.
That is not a regional statistic. It is a global economic…