"In yesterday’s Money Morning article on global oil supply I wrote to you about the oil crisis brewing in the Straits of Hormuz. This is the narrow channel that runs between Iran and Saudi Arabia. Forty per cent of the world’s sea-borne oil is shipped through here. Iran recently threatened to close the channel in response to a US-led embargo on Iranian oil.Global oil supply could fall 40% if Iran followed through on its threats.
This is not a new story. Iran and the US have been squaring off for 10 years. Not that this means it is a less important story to monitor today."
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