n day three of U. S. and Israeli strikes on Iran, tanker mogul Nikolas Tsakos fielded repeated calls from his staff in London who were trying to secure insurance for his tankers sailing just outside the Persian Gulf, as premiums skyrocketed due to Tehran's retaliation against energy facilities in the region.

What you need to know about the Strait of Hormuz, where shipping has been disrupted The Strait of Hormuz is a major shipping route that passes through the territorial waters of Iran and Oman, and is considered a key choke point for global oil shipping.