00:00Three ships sunk, the world's most important oil route effectively closed,
00:04and American drivers are about to pay for it.
00:07Iran struck three commercial vessels in the Strait of Hormuz this week,
00:12including tankers from Qatar and Saudi Arabia.
00:15The attacks triggered the latest round of U.S. military strikes
00:18and shut down the route that carries 20% of the entire world's daily oil supply.
00:24Iran is now demanding every ship using the Strait get Iranian approval first,
00:30The United Nations proposed an alternative route.
00:33Iran called it unacceptable and dangerous.
00:36Oil prices surged 4% in a single day on the news.
00:40Energy analysts are warning this could push U.S. gas prices above $5.50 per gallon
00:45if the closure continues into next week.
00:48The Strait of Hormuz is just 21 miles wide at its narrowest point.
00:52Iran controls one shoreline, and right now, Iran controls who gets through.
