Iran War Forces Energy Buyers to ‘Unshackle’ From Global Markets - The New York Times
Iran War Forces Energy Buyers to ‘Unshackle’ From Global Markets - The New York Times
Source: The New York Times
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DW NOTE
WTI has doubled from $45 in early 2024 to $89 now, and the lesson buyers are drawing is not diversification but autarky. You cannot hedge geopolitical risk when the choke points are physical and the adversaries are states. Every supply chain that runs through Hormuz or Bab el-Mandeb is a call option written to someone else's military — and the premiums just repriced.