Hormuz Saber-Rattling and $95 Oil: The Supply Risk Markets Are Mispricing
Iran just reminded the world that the Strait of Hormuz—through which 21 million barrels of oil per day flow, roughly 21% of global petroleum liquids consumption—remains a single-decision choke point. A senior Iranian politician this week described closure of the strait as “on the level of an atomic bomb” for the global economy, while US-Iran … Read more