The Strait of Hormuz: A Bigger Picture in Tatters The latest incident in the Strait of Hormuz, where an Iranian strike targeted a state owned oil vessel belonging to Abu Dhabi National Oil Company, is another brick in the crumbling edifice of regional stability.
This escalation of tensions and resurfacing of old rivalries obscures what's at stake: not just for immediate parties involved but also for global energy markets and the international community.
The Strait's importance cannot be overstated. It connects the Persian Gulf to the Gulf of Oman, carrying approximately 20% of the world's oil supply.