Three Omani-operated tankers, a French-owned container ship and a Japanese-owned gas carrier have crossed the Strait of Hormuz since Thursday, shipping data showed, reflecting Iran's policy to allow passage for vessels it deems friendly. Iran initially shut the Strait - a route for about a fifth of global oil and…
It would seem like different nations are trying to find a sort of modus operandi to somewhat use the shipping lane again. Let’s see how long it takes for the US Navy to be used to keep it closed for everyone.
That would actually be massive escalation in more than the obvious ways. Gulf states are the ones buying up most US debt (which is piling up extremely quickly). This is a large part of their leverage to secure continues US military protection. Should the US Navy be used to block the straight to enforce some kind of all-or-nothing approach, it’s going to be cause a lot of knock on effects in the bond market. We do be living in interesting times!