As the U.S. gears up for a potential ground war in Iran, $100 oil threatens 'demand destruction'
Fortune • • general
Key Points:
- Yih-Shyan “Wally” Liaw, co-founder of Supermicro, was arrested along with two others for allegedly diverting billions of AI servers to China in violation of U.S. export laws, causing Supermicro's stock to drop about 12%.
- The next phase of the conflict involving Iran may involve a ground war to secure assets around the Strait of Hormuz, with 2,200 U.S. Marines en route and discussions ongoing about deploying ground forces.
- Despite tensions, the Strait of Hormuz remains navigable via a route near Larak Island, though safe passage costs $2 million per operator and requires significant military escort resources.
- The prolonged conflict has pushed oil prices to historic highs, with jet
