Iran Threatens Middle East Energy Infrastructure as Hormuz Standoff Deepens
Iran threatened to attack energy infrastructure across the Middle East if its security isn't guaranteed as it ratcheted up its rhetoric while waiting for the United States to officially respond to a plan Tehran says would reopen the Strait of Hormuz. While air attacks by both sides have subsided rec
Source: OilPrice.com
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DW NOTE
Iran has closed the Strait of Hormuz — the route for 30% of seaborne oil — since September 29th. One ship passed through on the 27th. The normal daily count is eighty-five. WTI is at $90, down 20% from yearly highs despite the closure. Either the market believes Iran's seven-day reopening offer will be accepted, or traders are pricing in demand destruction faster than supply loss.