Iran Hormuz Tolls Could Explode American Gas Prices Now
Stalled negotiations over the Strait of Hormuz are threatening to send American gas prices soaring. Iran has proposed a tolling system on the world's most critical oil choke point, a move U.S. Secretary of State Marco Rubio called unacceptable on May 22. Iran is also demanding the U.S. end its naval blockade on Iranian ports before agreeing to fully reopen the Strait. The standoff is keeping global oil markets on edge and threatening the ceasefire reached on April 8. An Iranian closure or restriction of Hormuz would affect 20 percent of global oil supply, with analysts warning U.S. gas prices could surge by more than a dollar per gallon. WooGlobe Ref : WGA885740
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Iran's Fars news agency reported that Trump's assertion that a deal was nearly final was "inconsistent with reality."
