How and Why One Narrow Waterway Can Shake the Entire Global Economy

Hormuz is one of the most critical shipping lanes in the world. Roughly 20 percent of the world’s crude oil and a significant portion of global natural gas shipments move through this narrow passage each day. Recent threats to vessels traveling through the strait have raised alarms among global markets and security analysts alike. The war in the Middle East has put the Strait of Hormuz in the spotlight. It is one of the world’s maritime “choke points” – narrow passages on which global trade depends, putting them at the centre of geopolitical tensions. The Strait of Hormuz is a…