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The war is deepening and widening. Red Sea closure is the prime risk now as Houthis enter the war.
- Iran-US fighting is sustained but in tit-for-tat pace, with new reported strikes across the Gulf.
- Trump declares FULL blockade on Iranian ports, while IRGC asserts ‘wartime control’ of Hormuz.
- Trump drops 20% transit fee plan; oil prices ease.
- Multiple tanker attacks over past day again disrupt shipping & cause casualties.
- Regional conflict expands with reported Houthi missiles on Saudi Arabia.
- China bans helium exports. Goodbye chips.
IRGC announced that “as long as the US evil stays in the region, not a drop of oil and gas will be exported from the region.” And means it.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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