The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, handles around 26% of the world’s oil trade and is rarely far from the center of global tensions.

As the conflict escalates, container shipping faces growing risks from a potential chokepoint closure, rising insurance costs and surcharges from major carriers.

Pentagon officials are trying to prepare for all of the ways Iran could retaliate, as President Trump hints at what he might do.