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.

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).

Closing the Strait of Hormuz would send oil prices massively higher — at least at first If Iran blocked the strait, oil prices could shoot as high as $120-$130 per barrel, at least temporarily, said ...

The Strait of Hormuz is a vital artery for global energy flows, accounting for about 25% of global seaborne oil shipments and about 20% of liquified natural gas flows.

REUTERS Tue, July 1, 2025 at 7:06 PM PDT 4 min read A map showing the Strait of Hormuz and Iran is seen in this illustration taken June 22, 2025. (photo credit: REUTERS/DADO RUVIC/ILLUSTRATION) ...

A ship sails in the Strait of Hormuz, June 24. Photo: ali haider/epa/shutterstock Your editorial “ Iran’s Strait of Hormuz Gambit ” (June 23) rightly notes the waterway’s importance.

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.

A functioning Strait of Hormuz is “absolutely essential” to the health of the global economy, he said. “Following America’s attack on the Fordow nuclear installation, it is now our turn,” warned ...

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 ...

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 ...