President Trump Just Reimposed the Iran Blockade. Here's What That Means for Oil Stocks.
The president's stance will likely change, but the trajectory of oil stocks should remain the same.
Overview
When the war in Iran began on Feb. 28, Iran immediately cut off most access to the Strait of Hormuz, a vital transport route for about 20% of the world's oil supply. Since then, it has been a cycle of fragile ceasefires, flip-flop messaging, and naval blockades.
On July 14, President Donald Trump reimposed a naval blockade after yet another ceasefire negotiation fell through. And with consistent days of attacks, there are no signs of letting up from either side.
Details
There are many implications of the conflict, and it will inevitably affect the oil industry, but by how much? Likely a bit.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.