In conversations with more than three dozen oil and gas traders, executives, brokers, shippers and advisers over the last week, one message was repeated over and over: The world still hasn’t grasped the severity of the situation.
https://www.bloomberg.com/graphics/2026-iran-war-hormuz-closure-oil-shock/?embedded-checkout=true
Yep. Iran is in the driver’s seat. Even if Israel and the US bomb them into the Stone Age and the country devolves into multiple failed states, it’s very easy for a few people to cause enough commotion in the Straits of Hourmuz to keep the maritime insurance rates sky high.
Also, it’s in Iran’s interest to keep the Straits closed for an extended of time to punish the US for funding Israel. I doubt the 13 US military members who have died so far, joined up to advance Netanyahu’s military ambitions. Voters and taxpayers will take note.
I’m waiting for some one to make the argument that we need to double down and escalate the conflict so that the lives lost to date aren’t in vain. We’ve seen this foolishness before.
intercst
You mean like this -
Donald Trump has said his “preference would be to take the oil” in Iran and that US forces could seize the regime’s export hub on Kharg Island, the Financial Times is reporting.