On February 21, 2026, Iran launched fresh military exercises in the Strait of Hormuz, underscoring its strategic importance as a critical energy chokepoint that carries almost 20% of global petroleum. This development follows a partial closure of the strait during a military drill, which had already raised significant concerns about energy security and the potential for further disruptions to oil supplies. Analysts warn that any prolonged disruption could significantly impact global energy prices and economies, particularly in countries like India, which are heavily reliant on oil imports. The situation remains tense, with the U.S. and Iran still at odds despite recent bilateral talks in Geneva, as highlighted by the South China Morning Post.