President Donald Trump’s threat to “obliterate” Iran’s energy infrastructure if they don’t bow to his demands has created market madness and the potential for an unprecedented crisis.
Trump appears to have grown increasingly irate with Tehran’s refusal to allow tankers to ferry Gulf energy around the globe by effectively choking the narrow shipping lane, the Strait of Hormuz. On Saturday evening, he delivered a stark ultimatum: open up in 48 hours, or face bedlam.
Iran has refused to obey, instead warning of revenge attacks if Trump went through with his pointed threat. As the clock ticks towards Monday evening’s deadline, the potential for disaster has triggered all-out financial panic.
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