From the perspective of the global oil economy, there are few places as strategically important as the Strait of Hormuz.

US Secretary of State Marco Rubio has called on China to prevent Iran from closing the Strait of Hormuz, one of the world's most important shipping routes. His comments came after Iran's state-run Press TV reported that their parliament had approved a plan to close the Strait but added that the final decision lies with the Supreme National Security Council.