The Islamic Republic has vowed to block the region’s oil exports, saying it would not allow “even a single liter” to be shipped to its enemies.

Iran conflict halts Strait of Hormuz tanker traffic, risking global oil supply. Here’s why the narrow Gulf passage is vital and how it impacts crude prices.

The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world's oil passes. Tankers traveling through the strait, which is bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE and Iran. Most of that oil goes to Asia.

Despite efforts by the U.S. and others to address the crisis, the vital Strait of Hormuz, through which 20 percent of the world’s oil supply is moved, remains effectively closed. The war continues to have a dramatic impact on the shipping and oil industry,

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.

President Donald Trump said Friday night the US “totally obliterated every military target” on Kharg Island, which handles roughly 90% of Iran’s crude exports. Follow for live updates.