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Will Iran Actually Close the Strait of Hormuz? Eni CEO Weighs In ...Middle East
The Strait of Hormuz may be one of the most strategically sensitive energy corridors in the world, but the oil market isn’t blinking, yet, with Eni CEO Claudio Descalzi predicting Iran will not be able to afford this option. Brent’s muted response at around $77 per barrel on Wednesday, signals that traders see the odds of an actual closure as remote, despite intensifying hostilities between Iran and Israel.“It would be very difficult to stop the Strait of Hormuz, because everybody would be affected, including Iran,”…
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