Iran’s Chokehold on Strait of Hormuz Strains Oil and Gas Shipping
Iran Tightens Strait Controls. Oil Flows Through Narrow Places. This Has Happened Before.
What Happened
Iran has increased military presence or restrictions in the Strait of Hormuz, the narrow waterway through which approximately 20% of global oil and liquefied natural gas passes. This has created tensions for shipping companies and potentially affected energy transport costs.
What's In Your Control
Whether you panic-buy gasoline (don't). Whether you check oil futures obsessively (pointless unless you're an energy trader). Your home heating and transportation needs remain the same regardless o...