I’ll be watching oil prices like a hawk. I hear there’s a glut, and this possibility will have been priced in already a bit, but it’s going to go up.
The oil glut people were talking about never actually materialized, and prices will almost certainly go through the roof with the main shipping route being closed.
Feb 28 (Reuters) - An official from the European Union’s naval mission Aspides said on Saturday that vessels have been receiving VHF transmission from Iran’s Revolutionary Guards saying “no ship is allowed to pass the Strait of Hormuz”.
The strait is the world’s most vital oil export route, which connects the biggest Gulf oil producers, such as Saudi Arabia, Iran, Iraq and the United Arab Emirates, with the Gulf of Oman and the Arabian Sea.
The official, who spoke to Reuters on condition of anonymity, said Iran had not formally confirmed any such order. Tehran has for years threatened to block the narrow waterway in retaliation for any attack on the Islamic Republic.
Also, is my browser not loading it correctly or is this the whole article?
If so, I’m extremely impressed at the sheer amount of Journalism they’re doing here. A whole three lines of journalism? We’re not worthy!
Also, probably because the US/Israel might blow them up.
yeah that’s the whole article 🤣
Yeah because the US/Israel might blow them up.
Oh look, he’s not allowed to do tariffs anymore, so he can do tariffs this way! Who knew our very stable genius would be this clever?
It’s not really a major trade route for anything except oil. If you look on a map you’ll see why.
Good thing oil isn’t the backbone of our economy anymore
Like Sun Tizoo said, a good commander starts a thousand battles at once and scrambles to cancel the ones that don’t go well
Haha.
Yup. We fully transitioned by 2020 and this won’t have any negative effects, especially not on Europe. /s
It would be hilarious if shipping companies just completely ignored the theocracy’s decree. But since capitalists enable fascism, they will respect their wishes, and then get insurance and subisdy payouts, while at the same time paying protection money. So the whole world loses in all ways, just so the <10 shareholders benefit.
Maybe they shouldn’t have invaded then
Sure. But if they didn’t invade the shareholders would have gotten less money.
