1. Strait of Hormuz
The Strait of Hormuz is a narrow waterway connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea. At its narrowest point, it is 33 kilometers wide, with shipping lanes just 3 kilometers wide in either direction. Approximately 20% of the world’s daily oil consumption passes through this strait, making it a critical chokepoint for global energy trade. In 2022, oil flow through the Strait of Hormuz averaged 22 million barrels per day, representing about 21% of global petroleum liquids consumption. (eia.gov) Its strategic importance has made it a focal point for geopolitical tensions, with disruptions potentially leading to significant fluctuations in global oil prices. (cnbc.com)
