THINKING ALOUD
Five months after the Iran war began, the days of panic oil trading seem to be over
The war over Hormuz may have forced the world to end dependence on a single energy corridor
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BOMBS are falling, missiles are striking, tankers are being crippled. Hormuz is ablaze. And while the global oil price edges up, there is no market panic.
This time, civilian infrastructure is being hit. On Jul 18, Iranian officials said that American strikes destroyed a seawater pumping station and power transformer at the Bunji desalination plant in southern Iran, disrupting water supply to 20 villages.
In turn, Teheran attacked power and water infrastructure across Gulf states. One, Kuwait, revealed the extent of the damage: Iran had damaged a water desalination complex and an oil facility.
