As the conflict between Israel and Iran intensifies, speculation is rising about whether the Iranians will close the Strait of Hormuz, which is critical to the world’s oil production. Two ocean tankers crashed into each other and burst into flames near the strait early Tuesday morning amid reports of electronic interference caused by Israel and

Commercial ships are sailing close to Oman and are being advised by maritime agencies to avoid Iran's waters around the Strait of Hormuz, with the risk of the conflict between Israel and Iran escalating,

The Israel-Iran conflict has taken a perilous new turn, with fears mounting that Tehran could choke off global oil supplies by blocking the Strait of Hormuz, the world's most vital oil route. As US President Donald Trump demands Iran's 'unconditional surrender' and ramps up military rhetoric, energy markets are on edge.