If Iran moves to blockade the Strait of Hormuz, oil and gas prices could spike, but analysts see that scenario as unlikely for now.

Iran's threat to block the world's most vital oil transit point has raised fears of major global economic consequences.

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.

Iran has long asserted that it can shut down the Strait of Hormuz. While the strait can't be "closed" in the traditional sense - like shutting a road - Iran could attempt to make the waterway too ...

U.S. energy independence helps shield American economy from Iran's threats to block the Strait of Hormuz, where one-fifth of ...

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.

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.

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 ...