Iran tensions escalate, putting pressure on crude oil trade flows out of the Middle East
- Iran has issued a warning that it will be conducting a shooting exercise next week
- The US has already sent a battalion to the Middle East
- Crude oil prices have risen as traders price in risk of an Iranian strike. The trend is similar to what was seen last June before the US, Israel and Iran exchanged blows
Houthi militants have also sent out a coded message hinting that strikes on the Red Sea could ensue if the US were to strike Iran
