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.

Since Feb. 28, at least 16 merchant vessels have been attacked in the Strait of Hormuz and its adjoining waters (Persian Gulf and Gulf of Oman), killing 8 seafarers, with one still missing. w/ @BlackiLi and Lazaro Gamio. https://t.co/hwn1sO2geJ pic.twitter.com/IlVmYuHnXy

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.

The ongoing American-Israeli war on Iran, for all its complexity and global effects, boils down to a single question: Who can take the pain the longest? A

The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world's oil passes.

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

India’s heavy dependence on imported energy makes it particularly vulnerable to supply disruptions in the Gulf region.

President Trump said Friday that the U.S. launched punishing air strikes on Iran’s Kharg Island while sparing vital oil infrastructure as he pressed the country not to interfere with shipping through the Strait of Hormuz.

Add Yahoo as a preferred source to see more of our stories on Google. An Iranian military ship takes part in an annual drill in the coastal area of the Gulf of Oman and near the Strait of Hormuz, Iran, in this picture obtained on December 31, 2022 (photo ...