Millions of barrels of oil and gas are being held up as war breaks out over the major shipping route

The president also said he was offering government-backed risk insurance for ships passing through the Gulf region

The Strait of Hormuz is the narrowest point in the Persian Gulf and a vital link for oil shipments. See where it is and what could happen next.

Millions of barrels of oil and gas are being held up as war breaks out over the major shipping route, with maritime traffic reportedly dropping 80 per cent

Millions of barrels of oil and gas are being held up as war breaks out over the major shipping route