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The constraint in global crude markets is throughput: military action against tanker traffic on contested supply routes lifts the risk premium embedded in barrel prices with near-mechanical speed.
American forces struck multiple vessels linked to Iran's Revolutionary Guards, the US military confirmed, following further attempted missile attacks on a US Navy warship.
The mechanism behind that move runs on simple logic.
When ships moving crude face active military interdiction, buyers who depend on regional supply either pay more to reroute cargo or absorb the uncertainty directly into contract pricing.
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