Trump: US Will 'Take Over' Strait of Hormuz The Strait of Hormuz is a vital waterway connecting the Persian Gulf to the Gulf of Oman and the global oil market.
It's not just a narrow passage between Iran and Oman; it's the world's most important chokepoint for crude oil exports. Approximately 20% of all seaborne traded oil passes through these 21 miles of waterway, roughly 2.
1 million barrels per day, worth around $1 billion annually.