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A historian traces how Oil City brokers, then John D. Rockefeller, then futures exchanges decided what the world pays for crude – and why no one entity does today.

The pivotal waterway is much more than a global economic choke point. It is a politically and culturally dynamic region with its own dangerous undercurrents.

Any disruption to shipping in the narrow seaway could impact oil prices and ratchet up geopolitical tensions.

If the US imposed a ban on its diesel exports, as some lawmakers are calling for, it would roil the global market.

Turkey and Pakistan are poised to send troops to Saudi Arabia, but so far the Trump administration has avoided getting involved.

A fifth of the world’s oil travels through the narrow waterway.

Iran’s decision to levy tolls on ships passing through the crucial choke hold has an unlikely connection to the site of Shakespeare’s ‘Hamlet.’

With peace talks breaking down, the US president has said the US will blockade the Strait of Hormuz, which will have a further dire impact on international fuel supply.

The Strait of Hormuz is closed for the first time in the life of the Islamic Republic. Restoring the brake requires a credible diplomatic offer from the West.

Idle vessels accumulate biofouling quickly, especially in tropical waters. But there are precautions other ports can take against alien pests, parasites or disease.