00:00There are concerns that Iran might close the Strait of Hormuz in retaliation for U.S. involvement.
00:06And that's a concern because the Strait of Hormuz is the world's most important choke point for shipments of oil.
00:13It's a narrow sea passage at the end of the Persian Gulf between Iran and Oman,
00:20and it carries a lot of oil from the Gulf producers, mostly to Asia.
00:27And if it were blocked, analysts say that the price of oil might skyrocket from around $78 a barrel now
00:35to a potential $120 or $130 a barrel, which would lead to inflation around the world.
00:43There are lots of reasons, however, why Iran would not do that.
00:46And one reason is Iran would cut off its own oil exports.
00:50It would be harming its own best customer for oil, which is China.
00:54China, and there's an assumption also that the U.S. would use force in terms of the U.S. Navy
01:01to reopen the Strait of Hormuz and would bring further U.S. involvement in the war.
01:05And the U.S. Navy to reopen the Strait of Hormuz and would bring further U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy to the U.S. Navy
