The [[Strait of Hormuz]] is a geopolitically critical maritime chokepoint located between the Persian Gulf and the Gulf of Oman. It is a vital passage for a significant portion of the world's seaborne oil and lng trade.

Key characteristics & impacts:

• Global Trade Link: Over 20% of global lng supply, primarily from Qatar, transits the Strait.
• Geopolitical Risk: Vulnerable to disruptions due to geopolitical tensions, particularly with iran, which can impose transit levies or interdiction threats through entities like the "Persian Gulf Authority."
• Market Impact: Disruptions or increased transit costs at the Strait directly impact global energy prices and supply chains, leading to delays in anticipated lng supply surpluses and forcing restructuring of import deals, especially for regions like [[Latin America LNG Import]] that rely on global spot markets.