Mines, Missiles, and the Strait of Hormuz
Is the strait closed? The lack of heavy traffic — and US Navy ships — implies it is. Whether it can be reopened is a matter of much discussion at the moment, but even the threat of a minefield can keep oil markets in turmoil.
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As the Iran war drags through its third week, a lot of the focus is on the Strait of Hormuz, where the situation is not great.