Why the Strait of Hormuz matters: How US-Iran tensions threaten global oil and trade

Renewed strikes between Iran and the United States have disrupted traffic through the Strait of Hormuz, a waterway carrying roughly 20 percent of the world's oil and 30 percent of its seaborne fertiliser trade. Maritime intelligence firm Kpler reports ship crossings fell from 36 on Tuesday to 23 on Wednesday, with nearly half now using Iran's northern route past Larak Island rather than the Oman-hugging southern passage. Washington has reimposed sanctions on Iranian oil exports, with an estimated 63 million barrels currently at sea, as oil prices climb following President Donald Trump's declaration that the ceasefire is “over.”

Al Jazeera's Lina Abu Akleh reports.

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