And what is stuck in the middle is this narrow space called the Strait of Hormuz in the Persian Gulf. 20% of the world's oil goes through the Strait of Hormuz. These ships are not able to be insured to go through the Strait of Hormuz. They're just sitting there waiting. They're either going to get a military escort or what's been happening is they just say, you know what? Not worth the risk. (00:35–00:41)
CLAIM
Asserts that ships cannot currently be insured to pass through the Strait of Hormuz.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
