Oil Climbs as U.S. Sends Another Aircraft Carrier to Middle East - WSJ
Oil Climbs as U.S. Sends Another Aircraft Carrier to Middle East - WSJ
Source: WSJ
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DW NOTE
The U.S. is sending carriers to enforce freedom of navigation through a strait that hasn't seen commercial traffic in seven months. Iran's blockade has held since February — 90 incidents, one transit in the last week versus 85 per day normally. Oil is down 19% from recent highs despite a 6% supply loss this year. Either Washington knows something about reopening Hormuz, or this is theatre while the world rewires around the Persian Gulf.