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The Strait of Hormuz is the single navigable exit from the Persian Gulf for seaborne cargo.
Its navigable section is narrow enough that shore-based missiles can range across the full surface, which is what makes Iranian missile coverage over the strait a structural feature of energy supply risk rather than a contingent one.
Iran fired a missile at a UAE tanker transiting the corridor, the latest in a series of attacks, even as Tehran said it was close to completing a deal with Oman to manage shipping through the waterway and reopen it.
The bottleneck that shapes the risk Tankers departing the Gulf have no alternate maritime route to reach open ocean.
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