AI Summary

Two shocks are hitting energy investors at once, and they point in opposite directions. The first is obvious. Iran’s Revolutionary Guard declared the Strait of Hormuz closed again on July 11, the U.S. answered with three straight nights of strikes, and roughly a fifth of the world’s seaborne oil trade is once more moving in a trickle or not at all. Brent punched back above $86 this week, a one-month high, and crude is up around 40 percent since January. Repeated U.S. bombing has not broken Tehran’s grip on the…

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