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Why U.S.-Iran Feud Keeps Focus on Strait of Hormuz
Tankers haul about one third of the oil moved at sea through the strait – 20.7 million barrels a day of crude.
11 Jan 2020, 04:38 PM IST
(Bloomberg Businessweek) -- The Strait of Hormuz is once again a center of global tensions. The Middle East’s crude oil and natural gas flow through the narrow sea conduit to international markets, making it the world’s most critical transportation “chokepoint.” Incidents there — such as Iran’s seizure of a British tanker and attacks on ships in 2019 — can whipsaw energy prices and send shipping and insurance rates rocketing. Regiona...
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