Tanker operators in the Strait of Hormuz are facing higher shipping and insurance costs, despite a drop in oil prices, as investors wait to see what happens to the world’s most important crude ...

The U.S. attack on Iranian nuclear facilities Saturday night has raised the risk that oil prices surge into the triple digits, but experts say that’s still a remote possibility.

U.S. use of force to reopen the strait would likely be supported by Europe and “even unofficially by China,” he said. “Iran’s navy would probably get destroyed in a matter of hours or days.” Tags: U.S ...

China, the largest buyer of Iranian oil, sourced 5.4 million barrels per day through the Strait of Hormuz in the first quarter this year, while India and South Korea imported 2.1 million and 1.7 ...

If Iran blocked the strait, oil prices could shoot as high as $120-$130 per barrel, at least temporarily, said Homayoun Falakshahi, head of crude oil analyst at Kpler, in an online webinar Sunday.

The war between Israel and Iran has raised concerns that Iran could try to close the Strait of Hormuz, the world’s most important oil chokepoint. The strait is between Oman and Iran. About 20 ...