While there have been no major disruptions to the global oil supply so far, the attacks on Iran — by Israel and then the US — have rattled investors, sending oil futures soaring by around 10% since the start of hostilities,

If things were to re-escalate, the Iranian regime could take a worst-case, most damaging counter-measure by blockading the Strait of Hormuz, the narrow waterway between Iran and Oman through which 21% of the world's oil consumption flows.