Anytime Iran and the United States trade threats, global oil markets snap to attention. The reason is the narrow stretch of water at the mouth of the Persian Gulf. President Trump did not mention the strategic Strait of Hormuz in his late Sunday tirade against Iran, tweeting in capital letters that Iran “WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE,” in case it threatened the United States. But Iran is often quick to remind the world of its key location along one of the world’s main oil tanker routes. On Sunday, before Trump’s threat, Iranian President Hassan Rouhani had said that any war with Iran would be “the mother of all wars.” Earlier this month, Rouhani implied that Iran has the power to severely disrupt the oil trade in the Persian Gulf, which would likely mean an attempt to blockade the Strait of […]