Although the incident appears to be unrelated to the ongoing Israel-Iran hostilities, it has not yet identified the global oil and shipping market. According to the U.S. Energy Information Administration, the Straits of Hormuz – near the place where the collision occurs – is a crucial maritime barrier, with about 20% of the global oil liquid consumption flow per day. In 2022, it will be about 17 million barrels per day, making it the most critical oil transport route in the world.
