Strait of Tension: Hormuz on Fire Again The latest escalation in the Gulf has sent shockwaves through the global energy market, pushing oil prices above $100 per barrel for the first time since 2014.
The situation serves as a stark reminder that the world's most critical trade routes are increasingly vulnerable to geopolitical tensions.
Iran's expansion of its no go zone outside the Strait of Hormuz is consistent with the country's long standing claims on sovereignty over the region.