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I think the contrary. Iran has threatened to close the Strait of Hormuz, through which more than a quarter of the world's oil gets shipped. The world price of o
by Findecanor 1y ago
I think the contrary. Iran has threatened to close the Strait of Hormuz, through which more than a quarter of the world's oil gets shipped.
The world price of oil is then expected to go up, and the US economy is very oil-dependent.
Other oil producers would profit from this, ... including Russia's state-run oil company, which would help them fund their war in Ukraine.