Oil Prices Surge Again as Strait of Hormuz Remains Blocked and Iran Deal Collapses

 Oil prices are climbing again and the world is feeling it. With no diplomatic deal in sight and the Strait of Hormuz still effectively blocked, markets have resumed their upward push — and the consequences will be felt in every country on earth.

The Strait of Hormuz is the single most important waterway for global oil supply. Roughly 20 percent of the world’s entire oil passes through this narrow stretch of water between Iran and Oman every single day. When it is blocked — even partially — the entire global energy market reacts with fear.

And right now it is blocked.

Iran’s continued control over access to the strait has handed Tehran enormous leverage in its standoff with the United States and its allies. Every day that passes without a resolution is another day that oil prices inch higher, inflation pressures build, and governments around the world scramble to find alternative energy solutions that simply do not exist at the scale needed.

The human cost is already beginning to show. Higher oil prices mean higher fuel costs. Higher fuel costs mean higher food prices, higher transport costs, higher electricity bills. The people who suffer first and hardest are always ordinary citizens — not the politicians negotiating behind closed doors.

For the United States, the pressure is political as well as economic. Trump’s administration has publicly pushed for a deal with Iran but talks have so far produced nothing concrete. The longer this drags on the more it becomes a test of credibility for Washington.

The world runs on oil. And right now the tap is being controlled by one of the most unpredictable regimes on the planet.

No deal. No end in sight. And prices are going up.

— KeStar Worldwide | Fast. Clear. Unfiltered.