● Strait of Hormuz ◦ It provides the only sea passage from the Persian Gulf to the open ocean and is one of the world's most strategically important choke points(between Persian Gulf and Gulf of Oman). Hence, Statement 1 is correct . ◦ About 20% of the world's petroleum (about 35% of the petroleum traded by sea) passes through the strait, making it a highly important strategic location for international trade. Hence, Statement 3 is NOT correct