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Opaque oil deals around Hormuz test the petrodollar: Bousso

Wednesday, May 20th, 2026

The U.S. dollar-dominated global oil trading system is being tested by the Iran war and the closure of the Strait of Hormuz, as governments in major consuming nations turn to increasingly opaque deals with Tehran and Gulf producers to secure supplies. Since the outbreak of the war on February 28, roughly a fifth of global [Read more]

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