Who would’ve thought that US bombing of Iran’s nuclear facilities and Iran’s rocket retaliation against Israel would trigger an explosive surge in oil prices! In just about ten days, Brent crude jumped over 13%, and US oil prices soared more than 10%! To make matters worse, the Strait of Hormuz, through which about 18 million barrels of oil pass daily, now hangs by a thread as Iran threatens to close it! Oil transport costs have doubled, and supertankers are demanding 12% higher premiums! All this while the world holds its head and wonders – how much more will this cost us? If you think this is just another geopolitical soap opera, think again! Comment, argue, or just scream in rage – but don’t stay silent while this Middle East drama hits our wallets hard!
