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the level of expertise needed to execute the operation, recent similar iranian attacks on shipping and the fact that no proxy group operating in the area has the resources and proficiency to act with such a high degree of sophistication. dagen: iran denying involvement, saying this morning it is responsible for the security in the strait of hormuz and calling the united states move to blame iran alarming. joining me now, global economics editor for the wall street journal, john hilsenrath. this is an economic story for the united states and for the globe. we saw a big move-up in oil prices yesterday. how do you assess it? what are people telling you? well, you know, what i find remarkable about this event is what didn t happen. it s true that oil prices moved up but they really didn t move up very much. if you think what would have happened 10 years ago if we had tankers being shelled like this in the strait of hormuz, you would be looking at major increases in oil prices
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