Whenever I read about the Strait of Hurmuz in the news, it's always about geo-political and geo-strategic issues. If the gulf wasn't so rich with oil, I don't think the Strait of Hurmuz would be so important today.
I read that something like one-fourth of the entire world's oil goes through the Strait of Hurmuz. And countries in Asia like Japan rely almost entirely on this oil.
This is why everyone is so concerned about the future of the Strait and that's why Iran's relations in the region is important too. It looks like as long as there is oil, the Strait of Hurmuz will remain important.