The strait has been blocked by Iran since Israel and the US attacked it. Here's the key role it plays in the transport of oil and gas to the world, and why oil prices could rise in the coming days.
As expected, after the war between Israel and US-Iran broke out, oil prices rose sharply on Monday (March 2) as traders estimated that the supply of oil from Iran and elsewhere in the Middle East would slow, or grind to a halt.
Since the conflict began with Israel and the US attacking Iran on February 28, Iran warned ships passing through the Strait of Hormuz that they would be targeted.
Since the conflict began with Israel and the US attacking Iran on February 28, Iran warned ships passing through the Strait of Hormuz that they would be targeted.