The USS Abraham Lincoln and USS John C. Stennis in the Arabian Sea on Thursday. The USS Abraham Lincoln passed through the Strait of Hormuz and into the Gulf Sunday, a day after Iran backed away from an earlier threat to take action if an American carrier returned to the strategic waterway. REUTERS/U.S. Navy/Chief Mass Communication Specialist Eric S. Powell
Iran Oil Halt To OECD Likely to Raise Price by $30, IMF Says -- Bloomberg
A halt of Iran’s oil exports to countries in the Organization of Economic Cooperation and Development would likely lead to a crude price increase of as much as $30 a barrel, the International Monetary Fund said.
The blockade of Iranian oil “without offset from other sources” would trigger an initial gain of around 20 to 30 percent, or about $20 to $30 a barrel at current prices, the IMF said in a document released today. The closure of the Strait of Hormuz could trigger a much larger rally, according to the IMF.
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More News On Iran Threatening To Shut Oil Exports To Europe
IMF warns over risk of Iran oil price shock -- BBC
Iran threatens to act first on EU embargo -- Financial Times
Iran Considers Preemptive Ban of Oil Sales to Europe, Mehr Says -- Bloomberg
IMF: Iran Oil Export Halt May Send Prices Surging 30% -- FOX News/Reuters
Iran eyes banning oil sales to Europe -- Economic Times
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