Here’s why this time is different.
(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)
Oil
prices jumped as much as 4% on June 13 following attacks on two tankers near
the Strait of Hormuz in the Persian Gulf.
The source of the attack was not known.
However, the timing and objects of the attacks (Japanese ships of
interest attacked shortly after Prime Minister Shinzo Abe had met with Iran
officials) seems to point to Iran or Iranian rebels in Yemen as the likely
source. The incident is one in a long
history of sabotage activity in the area and threats to shut down the shipping
channel. Previous incidents eventually
faded into memory with oil prices returning to pre-existing levels. This time may be different.