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Episode 1410Jun 23, 2025

How much leverage does Iran really have over oil trade?

Plus, an update on the GOP’s reconciliation bill.

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How much leverage does Iran really have over oil trade?
Giuseppe Cacace/AFP via Getty Images

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Oil markets went into a state of panic after the United States launched strikes on Iranian nuclear facilities over the weekend, stoking fears that Iran could retaliate by closing the Strait of Hormuz. But Iran’s control over the key oil trade route may not be the economic weapon many think it is. We’ll explain. And, several provisions in the Republicans’ reconciliation bill haven’t made it through the so-called “Byrd Bath” and risk being axed from the legislation. Plus, did you know killer whales aren’t really whales?

Here’s everything we talked about today:

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The Team

How much leverage does Iran really have over oil trade?