Here we go again! Iran threatens to close the Strait of Hormuz, through which about 20% of global oil and gas demand passes, while China, playing the world’s concerned parent, calls for de-escalation and peace. Everyone knows the Persian Gulf is a crucial international trade route, so closing the strait would be like cutting off electricity to the whole world. But hey, Iran’s parliament backed this dramatic move, and China is worried about the global economy. Will the world turn into an oil circus or will diplomats finally calm the storm? Grab your popcorn and comment — is this the start of new chaos or just another political soap opera?
