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Strait between the Persian Gulf and Gulf of Oman
The Strait of Hormuz is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of Oman, with a portion of the southwest of the peninsula under the United Arab Emirates (UAE). The strait is about 104 miles long, with a width varying from about 60 mi to 24 mi.
More on Wikipedia ↗Crude flows through Hormuz have recovered, but tanker insurance costs and geopolitical risks remain barriers to a return to normality.
Oil flows from the Gulf have recovered to prewar levels, but the Strait of Hormuz is far from normal. Iran’s ability to disrupt shipping has weakened, yet tankers still face major risks and rely on US military protection and costly workarounds to move crude.
Oil exports in the Gulf have rebounded as the U.S. escorts ships through the Strait of Hormuz. But the obstacles to a lasting peace are greater than ever.