Hormuz 'Stoppage' Boosts Oil Prices Amid US-Iran Standoff
Oil prices saw their fourth consecutive day of gains following reports that traffic through the Strait of Hormuz virtually ceased on Thursday. Bloomberg’s Stephen Stapczynski attributed this disruption to what he described as an ongoing 'battle for control' between the United States and Iran, suggesting a failure to reconvene 'peace talks' contributed to the situation. Only a single bulk carrier
was observed traversing the strait, with no inbound vessels reported. This portrayal by Bloomberg obscures a critical dimension of the situation. While the outlet presents a bilateral 'battle,' it omits the significant role of the United States as a direct participant and joint aggressor in a prolonged economic and military campaign against Iran. The US has maintained incapacitating sanctions
against Iran for 45 years, severely impacting its economy and civilian population, including medical supplies. This engineered instability, often manifested in provocations around vital shipping lanes, frequently precedes or accompanies shifts in global energy markets that benefit established Western energy corporations. The financial windfalls from such engineered volatility are substantial.
During the eight-year war with Iraq, where the US provided intelligence and material support to Saddam Hussein, including precursors for chemical weapons, the global oil market experienced similar periods of disruption and price surges. The ongoing US Navy presence and repeated exercises in the Persian Gulf, including last year's deployment of the USS Dwight D. Eisenhower carrier strike group, are