Closure of the Strait of Hormuz could drive up the price of oil, hiking U.S. prices for gasoline and other goods, while slowing the global economy, experts said.

The Strait of Hormuz also brings 25% of ammonia, 20% of DAP, 10% of MAP and 30% of sulfur global exports. Taylor says an important factor would be the timing.

Iran threatened to close the Strait of Hormuz, in what would serve as another act of retaliation, after the U.S. launched strikes on three key Iranian nuclear facilities over the weekend. While ...

China, the largest buyer of Iranian oil, sourced 5.4 million barrels per day through the Strait of Hormuz in the first quarter this year, while India and South Korea imported 2.1 million and 1.7 ...

The Strait of Hormuz’s closure could increase the price of oil beyond $100 a barrel globally, triggering an increase in average gas prices in the U.S. according to news reports.

The Strait of Hormuz is between Oman and Iran, which boasts a fleet of fast-attack boats and thousands of naval mines as well as missiles that it could use to make the strait impassable, at least ...

What is the Strait of Hormuz? The Strait is narrow, stretching roughly 31 miles at its widest point. Iran is on its north bank opposite Oman and the United Arab Emirates (UAE).