Petroplus gone bust

JonZ4G said:
From the BBC....
IMF warns over risk of Iran oil price shock

They reckon a 20 to 30% oil price rise if the Straits of Hormuz are blocked :x

Never happen - US and UK maritime forces already in situ (well whats left of UK maritime forces.....!). Iranians tried this in 1986/7 and failed and certainly did not have the backing of the Arab world then and do not now. All of the Hormuz straits traffic passes through a seperation scheme (much like the Dover Straits) which is currently in Oman territorial waters - so any attempt at blockade would be an incursion into Oman. A brave if not foolhardy move by the Iranians which with their current limited military/maritime capacity they could not sustain.

Oil pipelines from South Sudan to Sudan turned off on Saturday (28th) which could have a limited impact on petrol prices - but these huge conglomorate oil companies - Total, Shell, BP et al - need little excusde to bump up their prices.
 
Back
Top Bottom