macro

Trump’s ‘Economic D-Day’ Crushes Iran Rial to Record 2 Million Per Dollar Low - The Eastern Herald

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DW NOTE

The rial crossed 2 million per dollar the same week the Strait of Hormuz hit 132 days of effective closure and oil revenues effectively stopped. Trump's "Economic D-Day" label is window dressing — Iran's currency collapse is the predictable result of a petrostate losing access to the sea lane that carries its only meaningful export.

Read the full story at The Eastern Herald →

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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