Nearly half of India's crude oil and 60% of its natural gas imports pass through the Strait of Hormuz. South Korea reportedly gets 60% of its crude oil through the strait, and Japan nearly three ...

If Iran blocked the strait, oil prices could shoot as high as $120-$130 per, at least temporarily, said Homayoun Falakshahi, head of crude oil analyst at Kpler, in an online webinar Sunday.

The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world's most important oil chokepoint due to the large volumes of crude ...

That means that about 15% of global crude oil supply and 20% of liquefied natural gas, or LNG, passes through the Strait of Hormuz, according to Morgan Stanley analysis released on Tuesday.

About 20 million barrels of oil per day, or around 20% of the world’s oil consumption, passed through the strait in 2024. Most of that oil goes to Asia. Get the latest breaking news as it happens.

Analysts think it wouldn’t. Asia would be directly impacted because 84% of the oil moving through the strait is headed for Asia; top destinations are China, India, Japan and South Korea.