Dorset Boy
Well-Known Member
I won't be surprised to see oil prices increase. I suspect Iran doesn't have to "close" the Strait of Hormuz. Just fire a few missiles towards the odd tanker now and again (even if intercepted) and the ship owners/insurance companies will be keeping their rankers in dock. Too risky to pass the Strait.
Something like 20% of the world's oil passes through Hormuz.
Oil prices will spike as a result of those tankers going nowehere or taking a looong route to their destinations