Strait of Hormuz

Riyadh and Cairo are trying to ease the acute oil shortfall through alternative pipelines, but these are just band-aid solutions, as the world's most vital energy corridor remains closed by Iran

Moves to boost non-oil sectors such as tourism and financial services could suffer setbacks if hostilities continue

The strait carries up to 20% of the world's oil exports at around 20 million barrels of oil each day. Any closure could cost the global economy greatly, even if only for a short time.

From spiking crude to dwindling confidence, the sudden and unprecedented escalation between these two regional powers has sent markets into a tailspin

The Strait of Hormuz links the majority of the world’s peoplewho live along the shores ofAsia and East Africato the heart of theMiddle East. Long before the discovery of oil, it was the world’s…