Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war.
West Texas Intermediate jumped 17%, or $15.32, to $106.22 per barrel. Global benchmark Brent advanced 15%, or $14.28, to $106.92. U.S. crude oil surged about 35% last week in its biggest gain in futures trading history dating back to 1983. The last time oil prices topped $100 per barrel was after Russia invaded Ukraine in 2022.
Shortly after oil blasted past $100 at the open of trading Sunday evening, Donald Trump posted on Truth Social that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat.
There is no way USA will defeat Iran in any meaningful sense.
If USA put boots on the ground, it will be many times worse than Afghanistan.
First: There are even more hiding places in the mountains of Iran than in Afghanistan, and the population is twice as big. And the area 2½ times bigger.
Second: Iran is way better organized, and has several big well trained organizations that can be made ready for guerrilla war almost instantly.
Third: I very seriously doubt any traditional allies to USA will be willing to support such an action. so USA will be on their own. If Israel goes in too, it will probably only make it worse.
Fourth, there is no organized support for the invaders as USA and the allies had in Afghanistan where it was supported by the reigning government.
It’s very doubtful the war can be won from the sky, it’s simply never been done! So the outlook for USA winning this war is bleak to put it mildly.