25 Apr 2024
Tuesday 24 July 2018 - 17:21
Story Code : 313326

Trumps war of words with Iran shines spotlight on vital oil route



Bloomberg | The war of words between U.S. President Donald Trump and his counterpart in Iran over oil exports and sanctions is shining a spotlight on the narrow, twisting conduit for about 30 percent of the worlds seaborne-traded crude.

The Middle Easts biggest oil exporters rely on the Strait of Hormuz, the passage linking the Persian Gulf with global waterways, for the vast majority of their crude shipments -- some 17.5 million barrels a day.

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