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Strait of Hormuz

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With Iran choking off the Strait of Hormuz, what can the U.S. do?

As the United States continues to intensify its war against Iran, the transit of oil through the Strait of Hormuz is still choked off – and the ramifications are being felt around the world. CBS News national security correspondent David Martin talks with Retired General Frank McKenzie about the hazards facing American ships; and how long it might take the U.S. Navy to open the Strait, a vital shipping channel through which one-fifth of the world's oil flows.

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Strait of Hormuz's impact on oil prices

Ship traffic in the Strait of Hormuz was mostly stopped amid the war in Iran on Thursday, which contributed to rising oil prices. The waterway typically carries around 20% of the world's supply of oil. On Wednesday, President Trump ordered the release of 172 million barrels of oil from emergency reserves. In a statement attributed to Iran's new Supreme Leader, Ayatollah Mojtaba Khamenei, he said Iran should keep putting pressure on the critical chokepoint.

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