Oil: What is the Strait of Hormuz, how does it tie into Iran tensions? - Business Insider

: "The origin of whatever molecules are consumed in the United States does not matter."

"What matters is that if there's a shooting war somewhere in the Middle East, those molecules will cost more and that will harm the American economy," he said. An oil tanker on fire in the Gulf of Oman on June 13, 2019. Iran has denied responsibility for the attack.Iran is more likely to disrupt traffic in the Strait of Hormuz than to engage in an all-out conventional war with the US, which is much stronger militarily.

Iran's oil industry is already suffering after the US imposed sanctions designed to stop countries from importing Iranian oil earlier this year.: "They'd be cutting their own throat if they close the strait."

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