Iran, Strait of Hormuz
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Trump, Hormuz
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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.
Iranian drone attacks temporarily shut Dubai airport and hit a key oil facility in the UAE. Read more at straitstimes.com. Read more at straitstimes.com.
Iran-US war latest: Trump demands seven countries help open Strait of Hormuz as Dubai airport hit by fresh attack - The US president said it is only appropriate that those who benefit from oil coming
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.
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.
Gas prices are climbing as the Iran war essentially shuts down shipping through the Strait of Hormuz, a narrow passage off Iran’s coast that serves as a key route for oil and gas from the Persian Gulf.
Follow live NBC News coverage and latest updates on the Iran war, as Tehran attacks ships around the Strait of Hormuz, the price of oil spikes and Israel strikes Lebanon.