Strait of Hormuz: A Flashpoint for Global Oil Markets The latest escalation in the Middle East has sent oil prices soaring above $90 a barrel as US and Iranian hostilities intensify along the Strait of Hormuz.
Rising tensions have already begun to disrupt shipping in the critical waterway, with vessels navigating treacherous waters under threat of attack.
Analysts warn that global oil markets may be underestimating the risk to supply from this latest escalation.