Oil prices are up swinging wildly as the widening Iran war disrupted tanker traffic through the Strait of Hormuz, highlighting how important the passageway is to the world's oil supply.

The Pentagon and National Security Council significantly underestimated Iran’s willingness to close the Strait of Hormuz in response to US military strikes while planning the ongoing operation, according to multiple sources familiar with the matter.

Fearing the supply disruption, Brent crude climbed to $78.55 per barrel, up 7.8% from $72.87 The Strait of Hormuz is crucial as about 20% of global oil supply,that is around 15 million barrels per day, pass through it.

DUBAI, United Arab Emirates (AP) — Attacks on commercial ships in the Persian Gulf continued on Wednesday, as global energy concerns mounted and the Strait of Hormuz, a key passageway for oil shipping, remained effectively closed. The attacks came as the ...

Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued his first statement on the war on Thursday, saying Iran should close the Strait of Hormuz and keep attacking its Gulf Arab neighbors as

The escalating Iran crisis could disrupt 55–65% of India’s LNG imports that pass through the Strait of Hormuz, raising concerns about energy shortages and rising input costs for several industries, according to an analysis by Shriram Asset Management.

Iran's new supreme leader ordered the vital Strait of Hormuz oil shipping lane to remain closed on Thursday, while US President Donald Trump said stopping the Islamic republic's "evil empire"