$250/barrel oil if Iran blocks key shipment route in Middle East, analyst

[First77]

A helicopter from the aircraft carrier USS Abraham Lincoln hovers over an Iranian patrol ship during a transit through the Strait of Hormuz

Tehran is threatening to block the Strait of Hormuz, a crucial artery for oil shipments from the Middle East, if Iranian exports are hampered. This will result in a huge loss of global crude supply and soaring prices.“The declared nominal throughput capacity of the Strait of Hormuz is about 14 oil tankers per day, or 17 million barrels per day, or about half of the world’s daily crude oil exports. If exports through it stop, the law of supply and demand would double oil prices to $160 per barrel,” Vladimir Rojankovski, investment analyst at Global FX, told RT.

The analyst added that if the Strait is blocked for one or two months, oil traders could panic and buy out all available crude futures, sending prices to $250 per barrel. However, Rojankovski expressed doubt that Iran would do that since the area is highly militarized.Most of the crude exported from Saudi Arabia, Iran, the United Arab Emirates, Kuwait, and Iraq passes through the Strait of Hormuz. It is also the route for nearly all the liquefied natural gas (LNG) shipments from the world’s largest exporter, Qatar.

https://www.rt.com/business

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[First77]

North Korea nuclear deal: US attitude 'regrettable', says Pyongyang

North Korea has branded the US attitude at the latest talks over its nuclear programme "regrettable" and "extremely troubling".The statement, by an unnamed foreign ministry official, contradicted the version of events given by US Secretary of State Mike Pompeo just hours before.

He had said progress was made during his two-day visit to Pyongyang.It was the first time he had visited North Korea since the Donald Trump-Kim Jong-un summit in Singapore."We had anticipated the US side would come with a constructive idea, thinking we would take something in return," the North Korean statement said."But through the high-level talks, the trust between the DPRK and the United States is facing a dangerous situation where our resolve for denuclearisation, which has been firm and steadfast, may falter."

https://www.bbc.com/news/world-asia-44751283

[BCSHonda]

The correct, not said here should not be some. The problem is also a referenced section to business. Please make a job of your better or more. This is to be used for the free national, because we have a public normal.

[Hydrogen]

A helicopter from the aircraft carrier USS Abraham Lincoln hovers over an Iranian patrol ship during a transit through the Strait of Hormuz

Tehran is threatening to block the Strait of Hormuz, a crucial artery for oil shipments from the Middle East, if Iranian exports are hampered. This will result in a huge loss of global crude supply and soaring prices.“The declared nominal throughput capacity of the Strait of Hormuz is about 14 oil tankers per day, or 17 million barrels per day, or about half of the world’s daily crude oil exports. If exports through it stop, the law of supply and demand would double oil prices to $160 per barrel,” Vladimir Rojankovski, investment analyst at Global FX, told RT.

The analyst added that if the Strait is blocked for one or two months, oil traders could panic and buy out all available crude futures, sending prices to $250 per barrel. However, Rojankovski expressed doubt that Iran would do that since the area is highly militarized.Most of the crude exported from Saudi Arabia, Iran, the United Arab Emirates, Kuwait, and Iraq passes through the Strait of Hormuz. It is also the route for nearly all the liquefied natural gas (LNG) shipments from the world’s largest exporter, Qatar.

https://www.rt.com/business

Iran has to be desperate to even suggest this. It threatens not only the united states but iran's neighbors and allies as well. Iran is about as strong militarily as iraq was when the united states invaded. Unless russia steps in and white knights for iran, they're at the mercy of the US and its allies in the region. The media spin here could be analysts and experts exaggerating iran's power & influence in pretending iran has the power to follow through on its threats.

Some say Saddam Hussein talked tough to the USA as he never imagined americans would travel halfway around the world to invade iraq. Something similar could be occurring here where iran is in denial about circumstances and not doing a very good job as far as diplomacy or leadership goes.

[davis196]

This move will be a suicide for Iran,because the USA and the US allies will block the Iran oil export to China.
There won't be another middle east war.The americans aren't that stupid to spend billions of dollars in a new and pointless war(I don't know about Trump).This won't affect cryptocurrencies.I don't care about the crude oil prices.

[carlisle1]

Iran only making noise to get attention and feedbacks but the truth is they will never do this,because tney become popular because of the lowest price they can give to the worlds oil exporter but if they bring this 250$/barrel to realitu for sure they will be a dead country in couple of years

[Deubila]

Iran only making noise to get attention and feedbacks but the truth is they will never do this,because tney become popular because of the lowest price they can give to the worlds oil exporter but if they bring this 250$/barrel to realitu for sure they will be a dead country in couple of years

This is very difficult and there are many confusing things here. It is unclear what their intentions are and what they are intended to achieve. But in fact it shows that Iran is taking action, blocking the route. If this is done, some countries will be deprived of economic traffic. It's hard for them.