What’s the Strait of Hormuz and what might occur to grease costs if Iran shuts it down?
It’s called the world’s most critical oil choke point — and Iran holds the power. Washington’s strikes on Iran stoked fears that Iran could retaliate by closing the Strait of Hormuz, a waterway between Iran and Oman through which around 20 per cent of the oil and gas consumed globally flows. Oil prices tumbled Monday after Iran’s initial retaliation didn’t appear to … Read more
