- Iran’s leaders this weekend threatened to shut the Strait of Hormuz, the world’s most important seaborne transit lane for oil.
- The comments appeared to provoke a late-night response from President Donald Trump threatening severe consequences for Iran.
- Oil prices would rise sharply if Iran shuts down the Strait of Hormuz or engages in military conflict with the United States, analysts said.
The threat of military conflict between the United States and Iran is rising, threatening to shut the world’s busiest seaway for oil exports and send crude prices higher, analysts told CNBC on Monday.
View original post 1,105 more words