Enigma called Hormuz |
The Iran-American conflict in the Middle East is now changing the global political landscape by a volatile international oil market.
Oil today has become a top priority for world leaders and not just a concern of oil traders the world over. Energy today is the central nervous system of international relations and world politics. At the heart of this instability is the ongoing friction between the United States and Iran, a rivalry that has transcended regional friction to become a significant threat to global energy security.
As these two nations navigate their complex relationship, the “chokepoints” of global trade, specifically the Strait of Hormuz, have become the primary theatre of economic and tactical warfare. The bitter standoff between the two warring nations has sent seismic ripples throughout the economies of the community of nations reminding us loud and clear that the “Black Gold” of the 20th century is still the ruler of the world economy in the 21st century. After the blockade and closure of the Strait of Hormuz the international Energy Agency (IAE) has characterized the situation as the largest supply disruption in the history of the global oil market. Iran, facing intense economic pressure and internal transitions, has utilized its strategic position to influence the flow of oil from the Persian Gulf. By asserting its........