- cross-posted to:
- worldnews@lemmit.online
- cross-posted to:
- worldnews@lemmit.online
Iran signaled on April 17 that access through the Strait of Hormuz remains conditional, despite earlier claims that the key shipping route was open.
Archived version: https://archive.is/newest/https://kyivindependent.com/iran-threatens-to-shut-strait-of-hormuz-if-us-naval-blockade-persists/
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
The reason is that before all this only 20% of oil passed the strait and 8% is being redirected through pipelines built long ago anticipating this.
12% of supply decrease will double prices, because turns out you don’t have much choice when you design everything to depend on oil, but eventually everyone figures out to use 12% less.