The Strait of Hormuz is the world’s most critical oil chokepoint, and its uninterrupted flow is essential to global stability. Every day, approximately 21 million barrels of crude oil—roughly 21 per cent of global petroleum consumption—pass through this narrow waterway between Iran and Oman. To nickname it a “special international waterway” and treat it as […]

Iran and the U.S. both threatened to tax ships crossing the world's most critical oil chokepoint — an action experts say violates international law.

The Strait of Hormuz is the world’s most critical oil chokepoint, and its uninterrupted flow is essential to global stability. Every day, approximately 21 million barrels of crude…