Fighting between Israel and Iran continues today after the US has obliterated three of Iran’s nuclear sites. Iran’s considering closing the Straits of Hormuz as a response to the US bombing. That would cut off the steady flow of gulf oil shipments to Europe, the US and Asia.
Iran’s parliament voted today to approve the closure. It still needs to be rubber stamped by this country’s Supreme National Security Council. It is believed the closure would cause more of a disruption than the Russian invasion of Ukraine and COVID-19.
Adam Lakhani security director at international SOS told Metro UK that the price of oil could jump from the current $71.77 to as much as $120.00 per barrel in a worst case scenario.
“Iran has a very well-established naval base in the city of Bandar Abbas and it has a strong naval capability,” Lakhani explained.
“So whether they decide to pull that lever… is something we are concerned about and are watching very closely.”
About a fifth of the world’s oil is transited through the shipping lane, which splits Iran on one side and Oman and the UAE on the other, and links the Persian Gulf to the Gulf of Oman and the Arabian Sea in the Indian Ocean.
The US has asked China to talk Iran out of it.
The biggest problem is that even though President Trump might not be looking for regime change, Israel appears to be and Iran knows it. When Israel asked for Trump’s blessing to kill the Ayatollah, that became clear.
If it closes, would that bring the US or Europe into the war?
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Any trouble in the straight will cause oil prices to shoot up. So, Iran getting aggressive there would accomplish their goal to some degree, whether or not blockage is effected. The straight is a rather confined area in a good position for Iran to block. Saudi Arabia could help us there, since they have a military and also border the… Read more »
All the more reason why we should have been mining and drilling our own resources years ago.
“Iran has a very well-established naval base in the city of Bandar Abbas and it has a strong naval capability,”
And also…..Bwhahahahahahhahahhahahahhahahah.
Well I guess the job isn’t done yet. What a shame, those people can have it so well if not for ishlamic hate.
Iran already lost their air force. I guess now they want to lose their navy. They’re reenacting Monty Python’s black knight scene.
Oh jeez. Something else for the left and the pacifists to hyperventilate about and scream to the sky.