Heather Long: Strait of Hormuz closure drives oil prices higher as U.S. plans blockade

Heather Long: Strait of Hormuz closure drives oil prices higher as U.S. plans blockade
Strait of Hormuz closure drives oil surge

The Strait of Hormuz has been effectively closed, leading to another surge in oil prices. Heather Long reports that the U.S. is about to impose a blockade in the region.

Long highlights that this development represents the biggest threat to the petrodollar in fifty years. Her analysis will be discussed further in a new episode of the @moronomics podcast.

Long has previously tracked key U.S. economic shifts. In February, she reported a decline in the national hiring rate to 3.1 percent, marking the lowest pace since April 2020. She also analyzed the 41% surge in U.S. car ownership costs since 2020, which has outpaced both wage and consumer price growth.

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