Energy

Oil steadies after US threatens to blockade Iran indefinitely - Reuters

Source: Reuters

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DW NOTE

The US is threatening to enforce what Iran has already accomplished. The Strait has been effectively closed for 166 days — one ship on August 9 versus normal traffic of 73 per day — and oil is trading at $81.90, down 27.5% from its one-year high. Either the blockade threat is redundant theatrics or markets have stopped believing supply disruptions matter when central banks won't let anything break.

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The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

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Oil steadies after US threatens to blockade Iran indefinitely - Reuters

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