What We’re Watching: Iran partially shuts vital shipping lane, China increases purchases of Russian crude, A thaw in the Sahara

Iran shows its leverage over Strait of Hormuz ahead of nuclear talks

Iran temporarily and partially shut down the Strait of Hormuz – the maritime entryway that handles over 20% of the world’s oil and gas shipping – ahead of a second round of nuclear talks with the US. The move was a show of leverage by Iran, signaling strength to its citizens and its ability to influence global oil…

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