ISOICO: Iran's ship comes in
When the Portuguese captured territory in the Strait of Hormuz in the sixteenth century, they were well aware of the strategic importance of the trade route linking the heart of the Middle East with the rest of the world. Five centuries later, the narrow waterway remains a geopolitical focal point, with about 15 million barrels a day (b/d) of crude transported through the strait to destinations in Europe, Japan and North America.
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