Shipping Adds $26 Per Barrel to Cost of Oil

Trump vows to take out 2 Iranian tankers for every one they hit.

Source: Mish Talk

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DW NOTE

Trump threatening to sink two Iranian tankers for every one they hit is how you get shipping insurance to $26 a barrel — which is the actual story here. The premium is higher than the crude price was three years ago. That's not a risk premium, that's a blockade tax levied by geopolitical brinksmanship on every economy that imports energy.

Read the full story at Mish Talk →