#IsraelIranConflict #IranIsraelConflict #IsraelIranWar

World markets are once again facing difficulties due to geopolitical tensions. The current conflict between Iran and Israel, and its possible escalation, has the potential to impact the global oil output, prompting prices to skyrocket and for crude to reassert its former nickname of “black gold.”

The Strait of Hormuz, which provides passage out of the Persian Gulf to over 20% of the world’s oil production, is the key for this to happen. According to recent reports, the government of Iran is considering closing it as a retaliation for the Israeli attacks, potentially unleashing changes in local and foreign oil markets.

The statement came from Sardar Esmail Kowsari, Commander of the Iranian Revolutionary Guard, who also declared that Iran would take “the best decision with determination” regarding this subject.