Global Trade in Oil, Gas Could Be Rattled by Iran
About a week ago, the United States authorized airstrikes targeting nuclear facilities in Iran, in collaboration with Israel. Their objective, similar to that of Israel, was to slow down the development of the Middle Eastern country’s nuclear program. The airstrikes were a result of growing conflict between Iran and Israel, which has caused concerns globally over the last couple of decades. Now, Iran is working to close the Strait of Hormuz, which plays a crucial role in global trade. It is the main export route for gas and oil-rich nations like Iran, Saudi Arabia, the United Arab Emirates, Qatar, Kuwait,…
