Trump’s war of words with Iran is another sign the world’s oil supply is at risk

The Extinction Chronicles

https://www.cnbc.com/2018/07/23/oil-prices-could-hit-200-a-barrel-if-us-and-iran-go-to-war.html?recirc=taboolainternal

  • 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.

Iranian Revolutionary Guards drive speedboats in front of an oil tanker at the port of Bandar Abbas 
Atta Kenare | AFP | Getty Images
Iranian Revolutionary Guards drive speedboats in front of an oil tanker at the port of Bandar Abbas

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.

President Donald Trump on Sunday night warned Iranian President Hassan Rouhani on Twitter that his country would “SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY…

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