Trump’s Hormuz brinkmanship is worsening a global fuel crunch
On july 13th President Donald Trump said America would reinstate its naval blockade on Iran and charge a 20% fee on cargo passing through the Strait of Hormuz. Brent crude, the global oil-price benchmark, jumped by 10%, to $83 a barrel.
Cue Demand Destruction in Southern Europe and Fuel Shortages in South America. $80+ Oil is a price only a few countries can support, and not for very long. Add in the Credit Crisis shaping up in CRE and the imminent Popping of the AI Bubble and it adds up to the Perfect Storm and a Financial Tsunami that will make 2008 look like the good old days. Now all we need is a good trigger event. Maybe Elon's new Rocket will pull a Challenger. 😀
RE