Strait of Hormuz: A Cautionary Tale for Global Trade The Strait of Hormuz has long been a vital artery of global commerce, carrying a significant portion of the world's oil and liquefied natural gas through its narrow waters.
Iran's recent decision to keep the strait shut until the US meets certain conditions is a stark reminder of the fragility of international trade.
The crisis began in June with the collapse of an interim deal between the US and Iran, which was meant to pave the way for a more comprehensive final agreement addressing broader issues such as Iran's nuclear program.