The Killing of Soleimani Will Send Gas Prices Flying. Maybe.
President Donald Trump's targeted assassination of Iran military commander Qassim Soleimani will have an immediate effect on gas prices due to a narrow but very important body of water. The Strait of Hormuz is the only passage from the Persian Gulf to the open sea and moves 20% of the world's crude oil along with a third of its liquid natural gas. This important body of water is bordered to its South by the United Arab Emirates and, menacingly, Iran to its North. Iran considers The Strait of Hormuz as one the country's most important strategic points with one former prime minister calling it " Iran's Jugular vein". Iran acts as a potent presence in the region,at times stopping and seizing ships under a variety of pretexts to make its importance known and to flex it's muscles ( the seizure of two British ships in 2019 are just an example) There are concerns that Iran, if it wished, could close the Hormuz Strait leading to chaos to the world's fi...