"Iran is winning the war, Hanke told Lin. They are in control of the Strait of Hormuz, Hanke insisted. It looks to me like they are going to continue controlling the Strait, and in that sense, they have a lot of leverage over the West."
"Iran's oil exports have actually increased since the war began, Hanke explained, citing reports from contacts inside the country. Iranian crude is moving through tankers exiting the Strait, selling at higher prices with lower discounts than before hostilities."
"The Iranian rial has appreciated 6% since the war started. Inflation, which Hanke tracks independently, remains elevated at 67% annually but has come down from over 80%."
"Physical oil markets in Asia are trading well above futures prices, a gap Hanke says will close as paper markets catch up to supply reality."
Steve Hanke asserts that the U.S. underestimates Iran's strength in the ongoing conflict, particularly regarding control of the Strait of Hormuz. He claims that Iran has mobilized over a million troops and is effectively winning a war of attrition. Despite high inflation, Iran's oil exports have increased, and the rial has appreciated. Hanke highlights the economic impact on Western nations and notes that physical oil markets are trading above futures prices, indicating a shift in market dynamics.
Read at news.bitcoin.com
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