The Strait of Hormuz is the world’s most sensitive oil-transportation choke point. Here's what you need to know about the attacks on oil tankers there:
The Strait of Hormuz, the world’s most sensitive oil-transportation choke point, was in focus Thursday, after two tankers were reportedly attacked, and damaged, off the coast of Iran.
The incident is expected to heighten tensions between the U.S. and Iran following damage to vessels in the region in May, which the U.S. blamed on Tehran. Iran has denied involvement. Why is it important? Oil tankers carrying crude from ports on the Persian Gulf must pass through the strait. Around 18.5 million barrels a day of crude and refined products moved through it in 2016, nearly a third of all seaborne-traded oil and almost 20% of all oil produced globally, according to the U.S. Energy Information Administration. That makes the Strait of Hormuz the world’s most sensitive oil transportation choke point.
A pair of Saudi oil tankers and a Norwegian-flagged vessel were damaged last month in what Gulf officials called a “sabotage” attack off the coast of the United Arab Emirates.
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