Iran, Oman, and the United Arab Emirates are enclose a slender waterway that connects the Persian Gulf and the Gulf of Oman
Title 3
The Strait is only 21 nautical miles (about 39 km) wide at its narrowest point, barely wide enough for two shipping lanes
Title 3
With up to 21 million barrels of oil handled daily, or roughly 20% of global oil production, it is the most significant oil transit chokepoint in the world
Title 3
This route is very essential for a major oil exporters like Saudi Arabia, Iran, Iraq, Kuwait, the United Arab Emirates, and Qatar to have access to the international markets
Title 3
It serves as a vital conduit for a non-oil and liquefied natural gas (LNG) shipping, linking Gulf economies with Asia, Africa, and Europe
Title 3
Existing pipelines cannot handle the massive volumes, so there are few alternatives. Global energy prices could rise as a result of any disruption here
Title 3
Large Asian nations like South Korea, Japan, India, and China are particularly reliant. The effects of any instability are felt even in North America and Europe
Title 3
It is a hotspot for international security issues because tensions, like threats to close the Strait, can tremble world markets
Title 3
More than just a shipping channel, the Strait of Hormuz is an essential conduit for global trade and energy