Israel-Iran conflict, June 23 -- Over the weekend, the United States joined the Israel-Iran conflict after launching an airstrike over three key nuclear sites of Iran, calling for a 'peace or tragedy' surrender of the Islamic Republic.

This move from the US has spooked commodity market investors and other nations, as Iran has a strategic advantage of creating any potential disruption at one of the world's most important oil trading routes.

Iran is the third-largest oil-producing nation among the Organisation of the Petroleum Exporting Countries (OPEC). It also holds key control over disrupting the oil trade through the Strait of Hormuz.

The Strait of Hormuz is a strategically important global trade passage for crude oil imports and exp...