In the past, Iran has threatened to close the strait, which would restrict trade and affect global oil prices, but has never followed through on the threat. Both strategically and geographically, the Strait of Hormuz is one of the most important oil chokepoints in the world. Global oil markets react immediately to any sign of instability in the strait, which often leads to an increase in oil prices merely on expectations. While a full closure is still unlikely because of the economic and military risks involved, the simple possibility of disruption is enough to increase global oil prices. The strategic relevance and importance of the Strait of Hormuz is immense, and its stability is vital for global economic strength and security.

Source: The Hindu February 21, 2026 12:47 UTC