Strait of Hormuz Risk Hits 'Severe' as One-Fifth of Global Oil Transits the Flashpoint

Iran's July 7 missile strikes on three commercial vessels sent the Strait of Hormuz's maritime risk rating to "severe," spiking Brent and U.S. crude futures immediately. The chokepoint channels roughly 20 percent of global oil consumption daily. Even partial disruptions move benchmark prices sharply higher. The attacks targeted a Saudi crude tanker, a Qatari LNG carrier at explosion risk, and a Singapore-flagged vessel, threatening a fragile recovery in the corridor's traffic flow.