Energy War Escalates, but Tehran Quietly Courts Neighbors

Oil markets are increasingly pricing in a potential long-term disruption as the situation in the Strait of Hormuz chokes exports, overwhelms limited bypass capacity, and exposes Gulf supply routes to escalating attacks. Crude Awakening: When $200 Oil Starts to Sound Reasonable - Oil markets are warming up to the idea that crude could indeed reach $200 per barrel, a threat that Tehran’s military keeps on reiterating, after the closure of the Strait of Hormuz entered its third week. - Most of crude tankers passing through the Hormuz…