Oil price up sharply this morning. Near $87. If the Mullahs hit Israel expect Kharg Island to be sunk. Oil will jump to near $100. per barrel if that happens.
Well, that ought to do in Biden. He can claim it’s not his fault, and then Trump can pound Bite Me that we should be producing a lot more oil ourselves.
That said, hitting Iran’s refineries and any refined product import terminals makes more sense. No fuel, and the country grinds to a halt. Crude exports go on, to a slightly smaller market overall.