00:00The Strait of Hormuz, a narrow passageway between Oman and Iran.
00:06Tankers from many countries line up here, most of them transporting crude oil from the Gulf region to Europe, Asia and North America.
00:15The Strait of Hormuz is a bottleneck between the Persian Gulf and the Gulf of Oman, only 55 kilometers wide at its narrowest point.
00:24The waterway for big ships is only 3.7 kilometers wide.
00:28In the past, Iran has often threatened to block the route, and it could do so again amid the ongoing conflict.
00:36Hormuz will be a big threat to the whole worldwide economy if it will be involved in this war.
00:46So, there are strategic positions from the Iranian government which see Hormuz as their key to have a security for their interests in the region, in the south of Iran, in the Persian Gulf.
01:10And if this happens, we will have a big threat to the whole world economy.
01:16A fifth of the world's oil supply is transported through the Strait of Hormuz.
01:22The channel is the second biggest route for oil after the Strait of Malacca, and more significant than the Suez Canal.
01:30So, it would be difficult to compensate for any disruption amid the ongoing conflict.
01:36The result would be higher oil prices.
01:38The Israel-Iran crisis has already sent prices spiking to the highest level in months.
01:44And if that is sustained over the coming weeks, consumers around the world will see the impact in the cost of goods.
01:50The Israel-Iran crisis has already sent prices to the highest level in the region, in the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the region of the
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