Washington’s Iran policy driving up oil prices at world’s expense: Analyst

Oil prices have surged sharply, driving up fuel costs and placing wider pressure on economies around the world. International affairs analyst Gilbert Doctorow argues that Donald Trump’s approach to Iran may be driven by an electoral calculation, with Trump willing to tolerate the economic and political costs of higher oil prices because he believes continuing the conflict could generate greater political support than accepting what he sees as a US defeat.

Doctorow says he is less surprised by Trump’s approach than by the response of European and Southeast Asian leaders. In his view, they should be publicly condemning Washington for driving oil prices higher through an avoidable confrontation and imposing unnecessary costs on the global economy.

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