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 live-fire naval drills are a signal from Iran of the potential fallout to the world economy if the US goes through with threats to attack it, as tensions mount between the two countries.

Add Yahoo as a preferred source to see more of our stories on Google. Tuesday’s move is the first time the Middle Eastern waterway has been closed since the 1980s, and came as Iran’s ayatollah issued fresh threats against the United States. One of the ...

DUBAI, United Arab Emirates — The widening war in Iran has ground tanker traffic through the Strait of Hormuz to a halt and oil prices have soared, highlighting the important role the narrow passageway plays in global energy supply. The Strait of Hormuz ...

The average price for a gallon of gasoline jumped 11 cents overnight to about $3.11 in the U.S., according to motor club AAA. Gas prices were already rising before the U.S. launched strikes on Iran as refiners switch over to summer blends of fuel,

Amid the war in the Middle East, Iran has been targeting key energy infrastructure across the region. Tehran is also threatening energy exporters, warning that tankers entering the Strait of Hormuz — a narrow,

Oil prices jumped Monday as the widening war in Iran disrupted tanker traffic through the Strait of Hormuz, highlighting how important the passageway is to the world's oil supply.