Pressuring Iran Would Backfire for the U.S. If Oil Prices Rise - Bloomberg:
Middle East policymakers in Washington these days should take some advice from that noted diplomat, Bob Dylan.
His adage “When you ain’t got nothing, you got nothing to lose” is getting tested with the Trump administration’s “maximum pressure” sanctions regime on Iran. The outcome of this particular experiment could well determine the direction of oil prices as the U.S. heads toward presidential elections next year.
As the recent attacks on oil tankers and a U.S. unmanned drone demonstrate, in military terms it would be relatively easy for Iran to cause disruptions in the Strait of Hormuz, a bottleneck through which about a third of the world’s seaborne oil passes.
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