Oman has historically been an important trade hub for frankincense and myrrh. In the 20th century, it gained geopolitical significance due to its oil production and strategic location along the Strait of Hormuz, through which a large portion of global oil shipments pass. The country experienced periods of isolation and declining influence after the death of certain sultans. Currently, Sultan Qabus bin Said al Said rules as both the head of state and government. Oman maintains strong alliance relationships with both the United Kingdom and United States through historical friendship treaties.