Gulf states are looking for an exit ramp from Iran war: The Atlantic Council's Jonathan Panikoff
Gulf states are seeking an 'exit ramp' from tensions with Iran due to declining confidence in U.S. security guarantees, according to Jonathan Panikoff of the Atlantic Council's Scowcroft Middle East Security Initiative. This comes amid a meeting with Iran to discuss shipping safety and following the Houthi takeover of Perim and strikes against the East-West pipeline. U.S. support for Saudi strikes against the Houthis was reportedly declined by President Trump.
The perceived withdrawal of U.S. security assurances and regional instability directly impacts global oil prices and the security of vital shipping lanes in the Persian Gulf.
Diesel prices topping $6 a gallon for the first time, and reasons for oil prices being down despite regional tensions.
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