Explore the implications of Iran potentially closing the Strait of Hormuz amidst rising tensions, impacting global oil prices, shipping routes, and geopolitical relationships.

Crude oil prices dip as Israel-Iran conflict spares supply lines; traders monitor Strait of Hormuz and OPEC output for further oil outlook clues.

“Closing the Strait of Hormuz or attacking energy infrastructure in the region will spike energy prices, turn all their neighbours into adversaries and more likely than not draw the US military, which has a large presence in the region, into the conflict,” he said.

Oil prices were stable on Monday after Iran's oil production infrastructure was excluded from intensification of military conflict with Israel, while the Strait of Hormuz remains open

About 21mn barrels of oil from Iran, Iraq, Kuwait, Saudi Arabia, Qatar and the United Arab Emirates pass daily through the narrow waterway separating the Islamic republic from the Gulf states, representing about one-third of the world’s seaborne oil supplies.

The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The strait is deep enough and wide enough to handle the world's largest crude oil tankers,

Iran's Parliament National Security said on Saturday that Tehran is considering shutting the Hormuz Strait in response to Israel's recent attacks.

Israel's air strikes on Iran are unlikely to cause a major disruption to oil supply, and market analysts believe a full-scale shutoff of oil flows by closing the Strait of Hormuz is unlikely

Greek and British maritime officials advised merchant ships to avoid the Strait of Hormuz after Israel's strike on Iran’s nuclear facilities, though the critical oil corridor remains open for now. Ira

Heightened tensions in the Arabian Gulf due to the ongoing Israel-Iran conflict are reverberating across global energy and shipping markets, pushing up freight rates, disrupting vessel schedules, and reviving fears over the strategic Strait of Hormuz — a crucial artery for global oil and gas flows.