LiveNOW from Fox · updated 2026-08-29

The Iran War Is Changing the Global Oil Industry

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“THE IRAN WAR IS CHANGING THE GLOBAL OIL INDUSTRY”

covered 2026-08-29 ▶ Be on the air with LiveNOW from Fox

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~20% of the world's traded oil flows through the Strait of Hormuz.

The U.S. Energy Information Administration calls it the world's most critical oil chokepoint. About 17 million barrels pass through daily — any Iran-linked disruption can spike global fuel prices fast.

Topic poll · all networksWhich past Iran oil crisis hit the global economy hardest?

  • 1979 Revolution cutoff 0%
  • 1980s Iran-Iraq tanker war 0%
  • 2012 nuclear sanctions embargo 0%
  • 2019 Hormuz tanker seizures 0%

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