The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.

March 15 (Reuters) - Indian foreign minister Subrahmanyam Jaishankar has hailed direct talks with Iran as the most effective way to restart shipping through the Strait of Hormuz, in an interview with the Financial Times published on Sunday.

The U.S. said it had destroyed 16 Iranian mine-laying ships amid fears Tehran could deploy hundreds of mines to effectively booby-trap the critical shipping lane.

Iran has effectively closed the Strait of Hormuz after U.S.-Israeli strikes, slashing oil and gas shipments and raising fears of a global energy shock

Iranian attacks on ships in the Strait of Hormuz threaten to drive U.S. gas prices to record highs. The attacks could also have a cascading effect on other prices.

Powerful storm system slams Midwest as East Coast braces for impact; Trump calls for other nations to help reopen Strait of Hormuz; Gas prices could reach $4 per gallon nationwide average this week; and more on tonight’s broadcast.

Retired Admiral Kevin Donegan, who commanded the Navy's Fifth Fleet in the Middle East during President Trump's first term, told ABC's "This Week" that the U.S. is not being taken off guard by Iran attempting to shut the Straits of Hormuz in response to U.

With fuel and freight prices skyrocketing as war chokes the Strait of Hormuz, the Panama Canal is seeing more business than usual.