Around a fifth of the world’s seaborne oil and liquefied natural gas normally squeezes through the Strait of Hormuz. When that flow slowed to a trickle under Iranian pressure, prices spiked, tankers rerouted, and economies from Asia to Europe stared at the risk of collapse. Saudi, Iraqi, Emirati, Kuwaiti, Qatari and Iranian exports all depend on Hormuz – and on the demand side, giants like India, China, Japan and South Korea rely on this one corridor for a huge share of their crude. One narrow strip of water suddenly reminded everyone who really holds the global oil tap. Watch the video for more.
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