Watch: Iran-Israel conflict: Why the closure of the Strait of Hormuz matters?

A warning from Iran’s Revolutionary Guard to ships passing through the Strait of Hormuz has triggered global market anxiety. After joint U.S.–Israel strikes on Iran, Tehran signaled that navigation through one of the world’s most critical oil routes could be restricted. Nearly 20% of the world’s crude oil supply passes through the Strait of Hormuz every day. Countries like Saudi Arabia, UAE, Iraq, Kuwait and Iran rely on it for exports, with major buyers including China, India, Japan and South Korea. Even without a formal blockade, disruptions, rerouting and rising insurance costs are already slowing tanker traffic. Analysts warn that a serious disruption could push crude oil prices above $90 — or even $100 per barrel. For India, which imports nearly 85–90% of its oil and depends heavily on Hormuz-linked supplies, the economic stakes are high. Higher crude prices could mean rising fuel costs, inflation pressures and a larger import bill.