From the perspective of the global oil economy, there are few places as strategically important as the Strait of Hormuz.

Naval forces in the Middle East warned that ships, especially U.S.-linked ones, could be at heightened risk after the U.S. strikes on Iran.

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 pass through it every day.