Things are heating up: Two tankers just got zapped in the Strait of Hormuz
As Donald Trump and Iran trade threats, the global oil supply chain just took an expensive, mysterious hit.
So, the Strait of Hormuz is having a rough week. Two tankers—one Saudi, one South Korean—were suddenly struck by random projectiles out of nowhere. The good news? Everyone is fine and no oil is currently polluting the sea. The bad news? This is happening right as the United States and Iran are back to playing a very dangerous game of tit-for-tat.
Donald Trump is already talking about hitting back hard, and the markets reacted exactly how you’d expect: oil prices jumped 2% immediately. Meanwhile, Qatar is desperately trying to get everyone to sit down and talk again, while Masoud Pezeshkian is playing the 'we're totally open to peace if they are' card. It’s the same old script, just with more expensive gas.
It’s almost like poking the world’s biggest gas station with a stick doesn't make things cheaper.
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