Strait of Hormuz Showdown: A Global Energy Market in Peril The recent escalation of tit for tat strikes between Iran and the US, with both sides trading blows ahead of the burial of former Supreme Leader Ayatollah Ali Khamenei, has sent shockwaves through global energy markets.
The Strait of Hormuz, a critical waterway for oil and liquefied natural gas shipments, is once again at the center of the storm.
Iran's Revolutionary Guard naval forces have vowed to respond with force if the US interferes with shipping routes in the strait, while the US has warned that any Iranian attempts to block or disrupt traffic will be met with severe consequences.