Iran has accused the US of violating the agreement aimed at ending the war between the two sides, after the US military launched strikes around the strait of Hormuz and revoked a temporary sanctions waiver for Tehran to export oil.
The US military said that it hit more than 80 targets in the early hours of Wednesday in response to Iranian attacks on three commercial vessels that were transiting through the strait of Hormuz on Tuesday.
Iran responded by launching attacks on US military sites in Bahrain and Kuwait, with the Islamic Revolutionary Guards Corps claiming 85 facilities had been targeted. Air raid sirens were heard in both countries and the Kuwaiti army said air defences were confronting “hostile” missile and drone attacks, but there was no confirmation of any damage.
US media reported that Donald Trump signed off on the strikes while attending the Nato summit in Turkey. Speaking on Wednesday morning, Nato’s secretary general, Mark Rutte, backed the US attacks, saying: “When you have a ceasefire and Iran is basically violating the ceasefire, I think it is totally crucial that the U.S. forcefully react.”
The oil reserves have been emptied right before the ceasefire but not replenished. Your fuel prices are going to look very funny very soon. As well as fertilizer and other critical goods.
Time will tell, I guess. But fuel costs have been steadily dropping since the war started.
Do you mean since the “ceasefire” started or since the war started? Certainly not the second.
Oil prices heavily dropped a few days before the ceasefire because everyone is trading with inside info. But in the end stocks is just paper value. Real oil is going to run out.
Nah, even before the ceasefire they were down from their peak, they definitely dropped a lot more after the ceasefire though.
Most of the drop happened right before the ceasefire. A little was left after it happened from all the bagholders.