How crucial is the strait of Hormuz to the global energy market? 😔

How crucial is the strait of Hormuz to the global energy market? 😔

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How crucial is the strait of Hormuz to the global energy market?
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Iran's parliament voted to close the Strait of Hormuz, a vital oil and gas route, in response to Israeli and US strikes on its nuclear sites. However, the Supreme National Security Council did not implement this plan. The strait is crucial for global energy, with significant oil and gas traffic, particularly to Asian markets. A closure could drastically increase oil prices, impacting global markets, especially Europe, which is already facing energy supply challenges.

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