Lower thirds: 

00:02 Report by Dan Hirschfeld
00:41 Dawood Nazirizadeh | Economist

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The Strait of Hormuz - a narrow passageway between Oman and Iran. Tankers from many countries line up here...Most of them transporting crude oil from the Gulf Region to Europe, Asia and North America. 

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The Strait of Hormuz is a bottleneck between the Persian Gulf and the Gulf of Oman - only 55 kilometers wide at its narrowest point is, the waterway for big ships is only 3.7 kilometers wide.

In the past, Iran has... 

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often threatened to block the route...And it could do so again amid the ongoing conflict. 

((+++OT Dawood Nazirizadeh, Wirtschaftsexperte in Teheran ((Mann, Englisch)) ((7:29///7:41-8:10))+++))
"Hormuz will be a big threat to the whole worldwide economy if it will be involved in this war. /// There are strategic positions from the Iranian government which see Hormuz  as their key to have a security for their interests in the region in the south of Iran in the Persian Gulf. And if this happens, we will have a big threat to the whole world economy."

A fifth of the world's oil supply is transported through the Strait of Hormuz. 

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The channel is the second biggest route for oil after the Strait of Malacca...and more significant than the Suez Canal. 

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So it would be very difficult to compensate for any disruption amid the ongoing conflict. 

The result would be higher oil prices...The Israel-Iran crisis has already sent prices spiking to the highest levels in months. And if that is sustained over the coming weeks, consumers around the world will see the impact in the cost of goods