Crude Spikes On News Iran Lawmakers Propose Straits Of Hormuz Blockade For Sanctions Countries
What goes down, must come up. In this case crude, which is soaring on news that Iranian lawmakers have drafted a bill proposing
a blockade of the Straits of Hormuz for oil tankers heading to sanctions supporters, i.e., embargo countries. Naturally, if implemented, this would mean an almost inevitable military retaliation on behalf of the «western world.» Then again, this is not the first time Iran has postured with a blockade. If indeed willing to follow through, it surely mean Iran has at least implicit whisper support of Russian and Chinese support when the situation inevitably escalates.