Wednesday, January 25, 2012

Iran Threatens To Cut Oil Shipments To Europe

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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