What’s top of investors’ minds this week?
US military strikes on Iran this weekend pushed Brent crude prices to $79.23/bbl as we write – still below the January highs – and focused markets on the risk that they may rise further. The main fear is that Iran closes the 21-mile-wide Strait of Hormuz, for example mining it or scuttling ships. About 20% – 30% of the world’s oil and gas transits the strait so such a closure could push oil prices to $100/bbl or higher for some period.
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