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Meanwhile, this three-day weekend has been extremely turbulent, one of the most chaotic weekends since the Iran war
President Trump threatened to unleash hellfire on Iran and declared Tuesday as Power Plant and Bridge Day. The U.S. military also launched one of the most complex rescue operations in history
Iran's response was to mock Trump via social media and warn that further escalation could plunge the entire region into hell
Trump hopes the Strait of Hormuz remains open, but Iran refuses to open it. Latest U.S. intelligence indicates Iran is unlikely to reopen the Strait of Hormuz in the near future
Why not open it?
Because exerting pressure through capital markets and continuously closing the Strait of Hormuz are Iran's core bargaining chips in this war
Additionally, the Iranian Parliament Speaker hinted over the weekend that they might close the Bab el-Mandeb Strait in the Red Sea, a channel that carries about 7 million barrels of oil daily
Oil prices closed at $112 per barrel on Thursday. If the situation does not ease, prices could quickly rise to $120
An extremely turbulent week lies ahead