What is the Strait of Hormuz and what will happen if Iran blocks it?

Australian Community Media

After the U.S. bombed nuclear sites in Iran, Iran may retaliate by blocking a waterway that carries 20% of the world’s oil – and Aussies could pay the price. This video includes ACM-produced voiceover powered by AI.

Transcript

00:00Australia could soon feel the fallout of the US, Israel and Iran conflict at the petrol

00:12pump.

00:13Iran has threatened to block the Strait of Hormuz, a narrow waterway near the Persian

00:18Gulf through which about 20% of the world's oil flows.

00:23Iran's parliament has backed a proposal to shut the Strait after the US dropped 14

00:30bunker buster bombs on three of Iran's nuclear facilities.

00:35Washington claimed the attack was a pre-emptive strike to prevent Iran from accelerating its

00:42nuclear weapons program, a move Israel had been calling for.

00:45We don't want escalation and a full-scale war.

00:49We continue to call for dialogue and for diplomacy.

00:53Iran has previously threatened to block the Strait but never acted on it.

00:58Any closure of the route, even briefly, could trigger a surge in oil prices.

01:04If the Strait is blocked, oil exports from major Middle East producers would be heavily disrupted.

01:11For Australians, that means more expensive petrol, more costly freight and higher prices at the

01:19supermarket.

01:21Some experts warn it could reignite inflation just as households are beginning to recover

01:27from a brutal cost of living period.

01:30Nam find the ynnodd.

01:31ode

01:32.

01:32trade

01:32radar

01:35.

01:37u

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