The Strait of Hormuz: Geopolitical Tensions and Oil Prices

This chapter explores the significant impact of the Israel-Iran conflict on global oil prices, particularly the strategic role of the Strait of Hormuz, which is vital for oil flow. It discusses Iran's parliamentary approval to potentially close this crucial waterway and the resulting international repercussions, including implications for countries dependent on Middle Eastern oil. Additionally, it analyzes the delicate balance of power in the region and the broader effects on oil production and pricing in the U.S. amidst ongoing geopolitical tensions.