Oil prices fell 7% after Iran fired on a U.S. military base in Qatar. Why would oil drop after a bombing? It was a collective exhale. Prices surged Sunday on fears that Iran might close the Strait of Hormuz — a move that would choke off 20% of global oil supply. But instead of triggering an economic crisis, Iran responded with a limited military strike. No supply shock, no escalation — and everyone survived. Markets read that as: crisis averted. And oil cooled off. Is that that? The post Markets Exhale as Iran Avoids Strait Closure appeared first on Redacted.