Post by Middle East Broadcasting Networks

Since active warfare began against Iran in late February, traffic through the Strait of Hormuz has ground to a halt. Oil tankers have sat idle as the threat of Iranian drones, gunboats and missiles caused shipping costs to surge, and governments around the world scrambled to stabilize energy markets as best they could. The disruption exposed the vulnerability of a global energy system dependent on a narrow waterway at the mouth of the Persian Gulf that carries a fifth of the world’s globally traded oil and liquified natural gas.  Although the recent ceasefire agreement promises to reopen the Strait, Iran has showed it is capable of shutting shipping down, raising the prospect that it could do it again. So, can the world live without the Strait of Hormuz?