The price of crude () jumped on Monday following Iran’s seizure on Friday of a British-flagged oil tanker in the Strait of Hormuz, but had pared initial, steep gains by 1427 GMT.
“I am concerned about it,” Perry told a news conference in Jerusalem, referring to the price rise that followed the ship’s capture. “But we find ourselves in a completely different situation than we were a decade ago.”
“New suppliers should help keep a steady supply of fuel – whether it’s crude, or other secondary products. I think you will see less displacement of the market when there is an event like we see happening,” he said.
“The Iranians will have a more difficult time in influencing the market than they would have 10 years ago.”
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