11 October 2026
The continuously shifting control of the Strait of Hormuz
A lot has been written about the Strait of Hormuz this year. It is a vital global energy choke point situated between the Persian Gulf and the Gulf of Oman, bordered by Iran to the north and Oman and the United Arab Emirates to the south. In the oil and tanker markets it was well known as a potential risk factor because roughly 20% of the world’s seaborne oil trade (crude oil and refined products) passes through this 20-24-mile-wide passageway. However, after the start of the U.S. – Iran conflict on February 28 of this year, the Strait of Hormuz has also featured frequently in the mainstream press, and it has become a household name. Shortly after the start of the conflict, Iran declared the Strait of Hormuz “closed”, wreaking havoc in the oil markets. Ever since, there has been a tug of war between the United States and Iran about control of this waterway.
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