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Analysis: What happens if Iran closes the Strait of Hormuz?
LONDON: It is thanks to a quirk of ancient geological history that almost half the global oil and gas reserves are located under or around the waters of the Arabian Gulf, and that the flow of the bulk of bounty to the world must pass through the narrow maritime bottleneck that is the Strait of Hormuz. On Friday, Israeli Prime Minister Benjamin Netanyahu told the world that Israel’s unprecedented attack on Iran earlier in the day was an act of self-defense, aimed at disrupting its nuclear program.
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cnbc.com
Why Iran won't block the Hormuz Strait oil artery even as war with Israel looms
Market watchers believe a full-scale disruption of global oil flows by closing the waterway is unlikely, and might even be physically impossible.
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How global freight ships are preparing for Israel-Iran conflict, Strait of Hormuz closure risks
Even if Iran does not close the Strait of Hormuz in response to Israel's attacks, much of the maritime shipping industry may stay away given the risks.
