Contrary to what you might see or read on social media, the Strait of Hormuz has not “opened” by continental rifting between Iran and Oman. This waterway is the locus of converging plate tectonic interactions between the Arabian and Asian plates and offers a natural laboratory to study plate tectonic subduction and collision.
This narrow waterway, only 60- to 24-miles wide, is the passage for one-fifth of the world’s oil transportation, or about 20 million barrels per day. According to the International Energy Agency, 80 percent of this oil goes to Asian markets; however, any major disruption in oil flow impacts the global economy because of the international connectedness of the oil industry.
Bud's Offshore Energy (BOE) 
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