Places in News: Strait of Hormuz
Context:
The Strait of Hormuz is in the news due to heightened military tensions.
This includes the seizure of the Marshall Islands-flagged oil tanker 'Talara' by Iran's Revolutionary Guards and a recent US military strike on sites in Iran, which has deepened fears that Tehran might attempt to close this vital global trade route
Geographical Significance:
The Strait of Hormuz lies between Oman and Iran
It connects the Persian Gulf with the Gulf of Oman, and further on to the Arabian Sea
It is about 33 kilometres wide at its narrowest point
Commercial shipping traffic passes through a narrower channel known as a traffic separation scheme (TSS)
It consists of a 3-kilometre-wide lane each for inbound and outbound traffic.
Strategic & Economic Significance:
It is the world's most important chokepoint for oil
About one-fifth of the world's traded oil passes through the strait.
This amounts to 17 million barrels per day, or 30% of all seaborne oil
Between 2009 and 2013, it shipped a larger volume of crude oil than the Strait of Malacca, the Suez Canal, and Bab el-Mandeb
It is a critical energy lifeline for Asia.
85% of the crude oil transported through the strait was destined for Asian markets
India is highly reliant on imported oil and gas
Much of which comes from the Gulf.
This creates a Hormuz Dilemma for India.