About 20-30 percent of global oil and gas supplies are shipped through the Strait of Hormuz. The US-Israeli attacks on Iran have triggered swift retaliatory attacks from Tehran, targeting their assets in multiple Middle East countries, including Israel, Qatar, the United Arab Emirates, Kuwait, Bahrain, Jordan, Saudi Arabia, Iraq and Oman. Analysts are warning of a spike in global oil prices after Iranian officials hinted at shutting down the Strait of Hormuz, one of the most important maritime routes in the world. On Saturday, an official from the European Union told the Reuters news agency that vessels crossing the strait have been receiving very high frequency (VHF) transmissions from Iran’s elite Islamic Revolutionary Guard Corps (IRGC), saying “no ship is allowed to pass the Strait ...