Global oil prices topped $114 per barrel and settled at a four-year high following Iranian attacks on the United Arab Emirates (UAE), according to market data and news reports. The attacks, reported by multiple sources, revived concerns about further supply disruptions in the region. Market analysts attributed the price jump to fears that the conflict could escalate and affect oil shipments through the Strait of Hormuz, a chokepoint for about 20% of global oil trade. According to a report from NaturalNews.com, Brent crude futures for June delivery briefly soared past $126 per barrel before pulling back toward $114 [1]. The…
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This article was originally published by Ryan McMaken at The Mises Institute. In January of 1917, V.I. Lenin was disappointed.…
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