Strait of Hormuz's Grip on Oil Markets Begins to Slip The world has been fixated on the ongoing conflict in the Middle East, particularly Iran's stranglehold over the Strait of Hormuz.
As the United States and its allies struggle to establish an alternate corridor through the waterway, global oil markets are quietly preparing for a post Iran era.
For years, the Strait of Hormuz has been the world's most critical chokepoint for oil exports.