, Columnist
Iran Can Turn the Persian Gulf Into a Minefield
A destroyer out to destroy.
Source: U.S. Navy/Getty Images
As war rages across the Middle East, every mariner’s eye is on the Strait of Hormuz. This narrow waterway, which connects the confines of the Persian Gulf with the open waters of the Indian Ocean, is effectively shut down.
Normally, about 20% to 25% of the world’s oil and gas flow south from the Gulf and on to markets around the world. As Bloomberg Opinion’s Javier Blas points out, a portion of the crude could get out via land-based pipes, but the disruption is still significant and will only get worse as time goes by.