14 minutes agoWhat is the Strait of Hormuz and why is it so important?
Periskopi(3 months ago)
(3 months ago)Iran has effectively blocked the Strait of Hormuz, one of the world's largest oil transport channels, where it usually exceeds about 20 percent of world oil. In 2025, about 20 million barrels of oil and oil products passed through the Hormuz Strait a day, according to estimates by the American Administration and [...]
Iran has effectively blocked the Strait of Hormuz, one of the world's largest oil transport channels, where it usually exceeds about 20 percent of world oil.
In 2025, about 20 million barrels of oil and oil products passed through the Hormuz Strait a day, according to estimates by the American Energy Information Administration (EIA).
This is an estimated $600 billion worth of energy trading a year, reports the BBC, broadcasts Klankosova.tv.
About 3 thousand ships usually sail through the straits each month, but this figure has been significantly reduced, with Iran threatening to attack tankers and others.
As a result, energy prices are unstable and remain well above pre-conflict levels.
Gulf countries, including Iran, rely heavily on energy exports for their revenues.
A strait blockade has also hit Asia, where only China is estimated to buy about 90 percent of the oil Iran exports to the global market.
