A. Suez Canal
B. Panama Canal
C. Strait of Hormuz
D. Bosporus Strait

• The Strait of Hormuz is one of the world’s most important oil shipping routes.
• Iran threatened to keep the route restricted while negotiations remained stalled.
• Global oil prices increased because traders feared supply disruptions.
• Nearly one-fifth of the world’s oil trade passes through this region.
Exam Tip
Strait of Hormuz = Iran + Gulf + Global Oil Trade