Will the Strait of Hormuz close?
It’s the multi-billion-dollar question in the energy industry right now: will the Iranians close the pivotal artery, the Strait of Hormuz, amid the escalating conflict with Israel and US?
As always with geopolitics in this sensitive region, the answer isn’t straightforward.
The US bombing of three Iranian nuclear sites has significantly raised the stakes and left the world wondering how Iran will retaliate; yesterday’s attack on Qatar bases provided an answer, although it is unclear whether it was designed as a warning, or the start of a dangerous new phase.
Either way, the conflict is having an impact on markets and open seas.
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