Why does the Strait of Hormuz have such an outsized effect on oil prices compared to other chokepoints?

Because there's almost no way around it. Unlike routes such as the Strait of Malacca, which have workable geographic alternatives, most oil leaving the Persian Gulf has no bypass option. That makes any disruption immediately visible in physical supply, not just sentiment.

What's the difference between Brent and WTI, and which matters more for Hormuz-related news?

Brent crude is the global benchmark most directly tied to Middle East supply, since it prices most of the internationally traded oil. WTI is tied more closely to US domestic production and storage. Brent typically moves first and furthest on Hormuz-related headlines.

Does the Strait of Hormuz disruption affect gas prices too, not just oil?

Yes. Qatar and the UAE ship the bulk of their LNG exports through the Strait, with no practical alternative route. A disruption hits gas-dependent economies, particularly in Asia and parts of Europe, alongside the oil market impact.

Is now a good time to trade oil, given the volatility?

That depends entirely on your strategy, risk tolerance, and market outlook; this isn't something we can answer for you. What we can say is that periods of elevated volatility, as the current post-crisis unwind, tend to create both larger opportunities and larger risks than calmer markets. Any decision to trade should be based on your own research and risk management approach.