Tensions are ramping up in the Strait of Hormuz, between the Iran, the US and the UK. For more on the latest news of two British-linked tankers being seized by Iranian forces, we speak to Kunal Agrawal, Senior Industry Analyst with Bloomberg Intelligence, about what this could mean for oil.

CORRECTION: Iran's Grace 1 tanker which was seized by the UK earlier this month was bound for EU-sanctioned Syria, not Libya.