"Given the continued threat of Iranian attack against any ships that don't pay the toll, the US blockade announcement will further discourage shipping through the strait, keeping volumes below 10% of the prewar level and putting continued pressure on oil prices."
"In pursuing this strategy, President Trump may be calculating that China will become more active in negotiations if it faces a cutoff of Iranian cargoes to its refineries."
"Tehran may increase attacks on regional energy facilities if Trump backs up his blockade threat with action."
Gasoline prices in the U.S. remain high, averaging $4.13 per gallon. Brent crude prices have risen to $102.29 per barrel, while WTI is at $104.56. President Trump announced a naval blockade on Iran and the Strait of Hormuz to limit Iranian oil exports. Analysts suggest this blockade may discourage shipping and keep oil volumes low, further pressuring prices. There are concerns that Iran may retaliate by attacking regional energy facilities if the blockade is enforced.
Read at Axios
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