Iran Can Rattle Sabers But Not Oil Prices
The Iranian government is rattling sabers once again, and the Trump administration is rattling back. In years past those tensions would have sent world oil markets into a panic. Not so this time around. And one important reason is the U.S. has become so dominant in crude oil and natural gas production and export.
In response to the escalating tensions between Iran and the U.S., some Iranian officials have threatened to close the Strait of Hormuz. It’s not the first time the country has made the threat; it happened in December 2011.
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