Oil prices jump as US and Iran trade attacks over Strait of Hormuz - Al Jazeera
Oil prices jump as US and Iran trade attacks over Strait of Hormuz - Al Jazeera
Source: Al Jazeera
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DW NOTE
Iran still controls access to 20% of global oil supply — a year-long blockade doesn't become a non-issue because tankers occasionally get through. The market priced in normalization that hasn't arrived: daily transits fell from 51 to 24 this week, and the strait that moved oil at $71 is the same strait that can stop it at $140.