Why Unlocking the Strait of Hormuz Is Proving So Difficult

No region of the world produces more oil and gas than the countries straddling the Persian Gulf, and most of it needs to travel by tanker via the Strait of Hormuz.

Traffic through the waterway has been at a near-standstill since the US and Israel launched strikes against Iran in late February, dealing an inflationary shock to the global economy and triggering a cascade of disruption across industries as varied as Indian fertilizer production, South Korean manufacturing and European aviation.