23
Jun
JOSEF KEFAS SHEEHAMA It's uncertain if Iran will attempt to close the Strait of Hormuz, which ship 20-25% of the global oil. The closure of the Strait of Hormuz would have an immediate impact on global oil prices, potentially leading to significant global economic crises. According to energy experts, the Strait of Hormuz, a narrow waterway that connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, is critical for global oil trade and security. Its strategic importance arises from its role as the key conduit for oil and gas exports from major Middle Eastern exporters to…