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How a 3-km-wide shipping lane is threatening the global oil market

But it is also an increasingly dangerous place because of recent attacks on tankers, raising fears that the route is vulnerable to assaults that could threaten and destabilise oil prices

An oil tanker after being attacked near the Strait of Hormuz, on Thursday.  Crude oil prices had shot up briefly after the incident	Photo: Reuters
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An oil tanker after being attacked near the Strait of Hormuz, on Thursday. Crude oil prices had shot up briefly after the incident | Photo: Reuters

Stanley Reed | NYT
The Strait of Hormuz, sometimes described as the world’s most important oil choke point, is a gateway for almost a third of all crude oil and other petroleum products carried by tanker.

But it is also an increasingly dangerous place because of recent attacks on tankers, raising fears that the route is vulnerable to assaults that could threaten and destabilise oil prices. After the apparent attack on Thursday on two tankers just outside the strait, tanker operators were quick to voice concerns.
 
“We have people of every nationality and vessels of every flag transiting that crucial sea lane,” said Paolo d’Amico,