The TACO Equilibrium
The whole world expects President Trump to end the Iran war any day now. Trump keeps insisting that he’s in no rush to do so. Through it all, the oil markets remain surprisingly calm. These facts are all related.
When the war broke out, experts warned that if the Strait of Hormuz remained closed for more than a few weeks, oil prices would spike to $150 or $200 a barrel. The strait has now been closed for three months.



























