This has stoked speculation that Iran’s leadership may reach for another way to pressure its enemies to relent — blocking or effectively closing the Strait of Hormuz to shipping. This narrow waterway at the mouth of the Persian Gulf handles around 26% of the world’s oil trade.

LONDON (Reuters) -Commercial ships are sailing close to Oman and are being advised by maritime agencies to avoid Iran's waters around the Strait of Hormuz, with the risk of the conflict between Israel and Iran escalating, shipping sources said on Wednesday.

Explore the implications of Iran potentially closing the Strait of Hormuz amidst rising tensions, impacting global oil prices, shipping routes, and geopolitical relationships.