The Strait of Hormuz is one of the busiest shipping routes in the world and provides the only sea passage from the Persian Gulf to the open ocean. An average of about 20 million b

The CEO of Italian energy company Eni said on Wednesday oil markets are signalling that an escalation between Israel and Iran and the closure of the Strait of Hormuz is unlikely.

The Strait of Hormuz is both a vital passage point and a permanent point of tension. As long as the world depends on Oil from the Persian Gulf, its security will remain a major geostrategic concern. If Iran were to cross the red line, the consequences would not be limited to barrels of Oil, but the global economic balance could be shaken.