A closure of the Strait of Hormuz would send shock waves through global energy markets, but the pain would be felt most acutely in Asia.

Iran has declared the Strait of Hormuz closed and threatened to set fire to any ships that try to pass through as the widening war in Iran grinds tanker traffic through the crucial waterway to a halt. The Strait of Hormuz is the narrow mouth of the Persian Gulf through which about a fifth of the world's oil passes.

Global oil and gas prices have surged as the Iran war has brought the crucial Strait of Hormuz crossing to a halt.

The Middle East conflict has stoked fears of prolonged disruption to global trade via key maritime corridors.

Bandar Abbas fires rage at Iran's main naval headquarters following possible U.S.-Israeli strikes. President Donald Trump won't rule out sending U.S. troops to Iran.

Gasoline prices in the United States soared to $3.20 a gallon on Wednesday, AAA data showed, flashing a warning sign for the nation’s economy as war escalates in the Middle East. A topsy-turvy stock market,

The Strait of Hormuz, normally jammed with oil tankers and cargo ships, has been nearly emptied by the war in the Middle East.

Tehran has laid a trap for Donald Trump in the Strait of Hormuz, one of the world’s most important shipping routes – and the president risks sailing right into it.