President Trump’s 48-hour ultimatum threatening to destroy Iran‘s power infrastructure if the Strait of Hormuz is not reopened has focused attention on the military technology options available to U.S. forces in the region. The U.S. has deployed thousands of additional troops, carrier strike groups, and mine countermeasure assets to the Persian Gulf. The hardware is…
South Korea is considering implementing an oil price cap for the first time in nearly 30 years, invoking Article 23 of the Petroleum and Alternative Fuel Business Act, which authorizes the government to set maximum retail fuel prices during periods of sharp market fluctuation. The provision, last activated during the oil price spikes of the…
Oil prices fluctuated violently on Monday as markets digested President Trump’s weekend ultimatum threatening to “obliterate” Iran’s power plants if Tehran fails to fully reopen the Strait of Hormuz within 48 hours. Brent crude traded above $113 per barrel, reversing initial losses as the deadline approached without any indication that Iran would comply. Iran’s parliament…
