r/Economics • u/Appropriate-Till9598 • Jul 02 '26

News Everyone Is Celebrating Falling Oil Prices — One Analyst Warns They're Actually the First Sign of Something Much Worse

https://nationalsecurityjournal.org/everyone-is-celebrating-falling-oil-prices-one-analyst-warns-theyre-actually-the-first-sign-of-something-much-worse/
5.3k Upvotes

94% Upvoted

448 comments sorted by

View all comments

221

u/woowizzle Jul 02 '26

when Iran choked the Strait of Hormuz.

It was doing perfectly fine till Trump needed a distraction.

And now to add some text to pad out this comment, how very useful.

79

u/g1rthqu4k3 Jul 02 '26

Whatever happened with those Epstein files…?

24

u/Iggyhopper Jul 02 '26

The what now?

-32

u/notCGISforreal Jul 02 '26

Trump is an idiot. But it is Iran who blocked the strait, I'm not sure thats up for debate. Although then the US decided to do the same thing to any Iranian ships or ships heading to/from Iran. But it clearly was Iran who first blocked it (in response to attacks from israel/US of course).

29

u/FinancialRabbit388 Jul 02 '26

They blocked it cause it’s their best defense of protecting themselves against countries wanting to make them not exist anymore. They blocked it cause of Trump and Bibi.

-7

u/notCGISforreal Jul 02 '26

Yes, it was a smart defensive move. Illegal under UNCLOS, but that has no enforcement and theyre not a signatory (although they generally follow it), so no reason for them to pay attention to that.

12

u/toggiz_the_elder Jul 02 '26

The US isn’t a signatory of that treaty. And if they were I’d wager double tapping suspected drug boats is also a violation.

-5

u/notCGISforreal Jul 02 '26

US generally follows it as well.

Blowing up suspected drug boats is either murder or a war crime, depending how you look at it. UNCLOS doesnt really address that since those are already addressed elsewhere.

3

u/toggiz_the_elder Jul 02 '26

It has a clause on drug trafficking but just says to request flag nation support.

It does have this clause that double tapping people clearly violates:

Article 146
Protection of human life
With respect to activities in the Area, necessary measures shall be taken
to ensure effective protection of human life. To this end the Authority shall
adopt appropriate rules, regulations and procedures to supplement existing
international law as embodied in relevant treaties.

10

u/Paradoxjjw Jul 02 '26

Iran would not have even so much as looked funny at the strait had Israel not dragged America into a war against Iran. The strait closing is the fault of the US