Skip to comments.The Critical Chokepoint That Could Send Oil To $250
Posted on 07/09/2018 7:48:55 AM PDT by bananaman22
Crude oil prices could jump as high as US$250 a barrel if Iran goes through with its threat to close the Strait of Hormuz in response to U.S. pressure on oil buyers to cut their Iranian purchases to zero, RT reports, quoting analysts.
The most bullish among these analysts was Artem Avinov from online broker TeleTrade, who saw prices skyrocketing to US$250 a barrel if the Strait of Hormuz is blocked, disrupting about 17 million bpd in seaborne oil trade. Avinov, however, added that this course of events is very unlikely, suggesting Iran would instead opt for a quick economic or military retaliation, which will lead to the lifting of restrictions.
(Excerpt) Read more at oilprice.com ...
or every Oil producer in the region could attack Iran
That is what would happen. Every other Gulf state would be out for Iran’s blood.
In which case it might reach $300
Good news for U.S. oil exports, and likely U.S. domestic prices will not have to rise that high.
But Trump could make a temporary huge release of domestic oil stockpile for domestic consumption only; just until our military takes out the Iranian military’s interference in the straight of Hormuz.
The mullahs are holding onto their power by their fingernails. They are not getting pallets of US dollars anymore, and their economy is in trouble. How would they block Hormuz without getting humiliated?
Probably the most pointless clickbait of the day.
Do it Iran, I would rather by American oil and gas and watch my country grow more prosperous.
Calling dibs on any Persian Bass Boats that survive an encounter with US Navy.
I have not been impressed with oilprice.com.
I do not read them any more.
Trying to crash the market and drive up oil prices.
This is just more nonsense chatter by the traders to scare up the price of oil.
First off, I question if Iran even possesses the capability to close the Strait of Hormuz.
Second, if they did have the capability, which I don’t think they do, the economies of almost every oil producing nation in the region would be so imperiled so as to destabilize each of those countries politically. Do you think the Sauds or anyone else in the region would go quietly in the night? Pffft...
But again, in my view, these types of articles are intentionally floated for purposes of ratcheting up the price of oil, either on the trader’s behalf, or on behalf of Russia, the Sauds, or whichever other oil country needs more lucre for their failed political system and to keep the peasants happy.
It would hurt Iran most of all. They’ll make some noise though.
Operation Praying Mantis
That’s why we have oil company stocks.
Did I scare you?
Good, now follow my instructions...............
If Iran did that they would be cutting their own throats.....................
For real. Every other oil producer in the region is Arab, Iranians are Persian. They don’t like each other a lot.............
And they are quoting RT..................
Does anyone in there right mind think the US would let that happen? I do not think so!
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