It is being reported that the USA, with 7 allies, is now going to insure the Strait of Hormuz will be open and safe for traffic – which translates as mostly oil tankers.
Here is just one such report…from Molly Glick’s post, quoting Barak Ravid’s article for axios.com:
NEWS: Seven U.S. allies back potential Strait of Hormuz coalition
- The UK, France, Germany, Italy, Canada, the Netherlands, and Japan said they’d help ensure safe passage for oil tankers and commercial ships through the strait, through which about 20% of the world’s oil flows.
- Except: No country committed ships or other necessary resources. Most have previously opposed deploying naval vessels during the war.
- The latest: The UK has sent officers to Florida to strategize a Strait of Hormuz coalition with the US military.
Hmmmm. Let’s see. The Arab countries of the Middle East, almost all of which have been attacked by Iran since our joint action with Israel started on February 20th are on board. And now, however late and grudgingly, a bunch of other countries are at least indicating support (not much, but more than a week ago) as well.
Where does that leave Iran? It’s military assets are nearly wiped out, its missile supply and launching pads are almost gone, its leaders are dead and no one is coming to its rescue.
Think that has the potential to make oil more accessible and oil prices lower?
Me too.
Let’s see if/how fast it happens.
