Energy woes deepen as Trump team looks to soften blow
Why it matters: Ships avoiding the Strait of Hormuz and military threats to regional infrastructure are together shocking oil and natural gas markets. "There's no doubt that what's happening now is an order of magnitude bigger — in terms of potential fallout for oil markets — than Russia's invasion of Ukraine," writes Robin Brooks, a Brookings Institution economist.
Plus it's costing $2B/day!
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