MenuIn the wake of American and Israeli strikes against Iran on February 28th, Tehran reacted swiftly, attacking energy infrastructure, water desalination plants, and other soft targets across the Middle East as well as moving to close the Strait of Hormuz. Closure of the vital Strait has long been foreseen by security experts, including this author, who warned about the Iranian regime’s intentions in a 2007 Congressional testimony, but it still shocked markets. Crude oil prices jumped from approximately $70 dollars a barrel to just over $110 a barrel as the crisis entered its second month.
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