Will this bring oil prices down in Europe? Oil tankers could still go to the mediteranian via the suez canal. This will not help asia, but I can imagine if it is too dangerous the go through bab al-mandab strait it is more lucrative to sell the crude oil to europe at a discount?
No. A cynic might think a significant part of this half-arsed Iran war was: - make sure fuel prices increase globally - The US economy is relatively well-shielded from the fallout by its own fossil fuel sources, local and in colonies like Venezuela. - export more US fossil fuels, especially to Europe, at inflated prices. US insiders reap the profits. - further kneecap European competitiveness in energy intensive sect…
When all is said and done it will be he, not AOC or Bernie or any "Green New Deal" folks, that will be remembered by history as the president who did more to get people off fossil fuels than any other.