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The Iran War caused the price of Brent oil to rise from below $70 to over $115 from early to mid-March. The subsequent calming brought it back to its starting level. It is currently trading again at $85. The USA even positioned itself briefly as the "guardian of the Strait of Hormuz," suggesting a 20% fee on the value of goods to secure passage. The oil market will remain volatile with less visibility regarding oil supplies. This leads to the conclusion: About 20% of the world's traded oil passes through the Strait of Hormuz. Iran has recognized...
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