With Oil Markets Nearing the Danger Zone, a US Iran Deal Can't Come Soon Enough The world's oil markets are perilously close to disaster, yet international leaders seem paralyzed by indecision.
The months long standoff between the US and Iran has left the strait of Hormuz closed, a critical waterway through which nearly 20% of global oil supplies pass.
At first glance, the $100 per barrel crude price may not appear excessively high. However, this masks a more ominous reality: beneath the surface, energy markets are precariously close to chaos.