Beyond oil: The crucial exports blocked by Hormuz closure
The price of a wide range of goods - from food, to smartphones, to medicines - could be affected by the US-Israel war with Iran.
The price of a wide range of goods - from food, to smartphones, to medicines - could be affected by the US-Israel war with Iran.
The treasury secretary says the move will quickly bring about 140m barrels of oil to global markets.
The tiny island is home to one of the most critical pieces of Iran's energy infrastructure.
Trade at the Middle East's biggest port has been hit hard since Iran's blockade of the Strait of Hormuz began.
A timelapse of marine traffic shows the flow of ships has decreased in the Strait of Hormuz.