Treasury Secretary Says the Strait of Hormuz Will Be Irrelevant in Two Years - MishTalk
Treasury Secretary Says the Strait of Hormuz Will Be Irrelevant in Two Years - MishTalk
Source: MishTalk
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DW NOTE
The Treasury Secretary thinks the most critical oil chokepoint in the world — still closed after 131 days, with 2,000 ships stranded and 4 million barrels per day of trade offline — will be irrelevant by mid-2028. Meanwhile crude is at $78, down 31% from its one-year high despite the closure. The market is pricing in either a swift reopening or permanent demand destruction, not optimism about alternative routes.