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Commodities

Tanker attack rings alarm bells for oil-reliant Japan

'Iran did it' Trump says, pointing to a video of a boat at the blast site

TOKYO -- The Persian Gulf, a sea as large as the U.K., connects to the more open waters of the Arabian Sea via the Strait of Hormuz, which is just 33 km wide at its narrowest point. Roughly 17 million barrels of crude -- enough to meet nearly 20% of global demand -- pass through the strait on tankers each day.

Thursday's attack near the strait on tankers operated by Japanese shipper Kokuka Sangyo and Taiwanese oil company CPC has raised the specter of this crucial sea lane being closed off.

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