BY SRH
An Official Collapse of the Petrodollar Occurred When the Strait of Hormuz Persisted in Being Closed to the United States and Israel Despite Alleged “Ceasefire”
On Wednesday, crude futures fell dramatically as attention turned to the potentially lengthy process of reopening the Strait of Hormuz, which has trapped hundreds of ships, including enormous oil tankers, due to the shaky truce between the United States and Iran.
That reopening, however, appears to be on hold due to renewed attacks.
X reported that oil tankers could no longer sail through the Strait of Hormuz “following Israel’s attacks on Lebanon.” This information came from the Iranian news agency Fars News.
The office of Israeli Prime Minister Benjamin Netanyahu announced late Tuesday that Lebanon was not a party to the cease-fire deal.
As the fighting continued on Wednesday, a drone allegedly struck Saudi Arabia’s East-West pipeline, which has become an escape valve for Saudi goods.
The parent firm Kpler and the Marine Traffic website both report that there are currently 426 oil tankers, 34 cooking-gas carriers, and 19 ships carrying liquefied natural gas waiting to cross the strait.
