Let’s zoom out and look at the macro, 1/ Iran is affected the most. 40% of state revenue comes from oil. 2/ China loves Iran’s discounted oil, buying 80–90%+ of what Iran ships out through small, privately-owned “teapot” refineries (independent oil refineries primarily based in Shandong province) in China. The U.S. just sanctioned Hengli Petrochemical, China’s 2nd largest teapot, and blacklisted ~40 shadow fleet ships doing the deliveries. That cheap oil pipeline is now on fire. 3/ China still needs those barrels. They’re the world’s second largest economy. They’ll go shopping on the open market, chasing Russian, Saudi, and Brazilian crude instead. More buyers, same supply. Prices go up for everyone. Whether you’re in France, Florida, or the Philippines, you’re part of this story too. #OilPrices #Geopolitics(Lark Davis)