Part 3/11:
This surge in U.S. oil production is explosive, driven by a robust domestic energy industry. The increased export capacity not only undercuts Russia and OPEC nations but also weakens the strategic influence Iran previously held over oil markets, especially via the Strait of Hormuz.
The Strategic Implications for London and the Middle East
The City of London, historically intertwined with Iran through proxy relationships, has benefited immensely from controlling the flow of oil through the Strait of Hormuz. Lloyd’s of London, through insurance and shipping financial services, profited billions by controlling insurance rates for ships passing through this strategic choke point.