As the conflict between Israel and Iran intensifies, speculation is rising about whether the Iranians will close the Strait of Hormuz, which is critical to the world’s oil production. Two ocean tankers crashed into each other and burst into flames near the strait early Tuesday morning amid reports of electronic interference caused by Israel and

The Iranian government reveals its plan to close the Strait of Hormuz, a crucial waterway responsible for 20 percent of the world's oil consumption.