Oil and natural gas prices may fall as more traffic flows through the strait, but they would remain much higher than in February before the U.S. and Israel initiated the war, especially if Iran continues to charge a $2 million toll per vessel. The U.S. must either put “boots on the ground” to take control of the narrow strait—through which 20% of the world’s oil, liquefied natural gas, and petrochemicals pass—or achieve some kind of truce that’s unlikely to last, he said. The 1980 Carter Doctrine said the U.S. would intervene militarily to protect its interests in the Middle East against external powers, which was in response to the Soviet Union’s invasion of Afghanistan.
Author: Jordan Blum
Published at: 2026-03-31 22:07:54
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