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Qatari LNG Tanker Abruptly U-Turns In Hormuz Chokepoint After Weekend Transit Breakthrough
Qatari LNG Tanker Abruptly U-Turns In Hormuz Chokepoint After Weekend Transit Breakthrough
Day 72 of the U.S.-Iran conflict opened with yet another failed diplomatic off-ramp.
Tehran on Sunday submitted a counterproposal to the Trump administration's plan to end the war, but President Trump swiftly rejected it as "totally unacceptable," pushing WTI crude futures roughly 3% higher to $98 a barrel as traders slightly repriced the war-risk premium higher for a prolonged Strait of Hormuz disruption.
Tehran's counterproposal was a major focus over the weekend, but what caught our attention Saturday morning was...
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Global Energy Crisis Or Iranian Surrender In Five Weeks?
Global Energy Crisis Or Iranian Surrender In Five Weeks?
Authored by Brandon Smith via Alt-Market.us
The last time global energy markets witnessed a shock similar to what we might see this year was during the 1973 Arab Oil Embargo. Tensions were escalating in the aftermath of the Yom Kippur War when the Arab Coalition launched a surprise attack against Israel. OPEC nations joined forces to cut off oil to Israeli allies including the US. This froze around 15% of oil exports to America, triggering market speculation, hording and price inflation.
The infection...
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