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IBDvalueinvestin (99.64)

IRAN threatens to close oil transit route in Middle East.

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December 13, 2011 – Comments (4) | RELATED TICKERS: CVX , XOM , CJES

Currently, the Middle East region supplies 70 percent of the world’s energy needs, (most of) which are transported through the Strait of Hormuz.

Today Iran threatened to close this transport route as response to Western threats on Iran.

 

 Iran to hold war game to close Strait of Hormuz: MP

4 Comments – Post Your Own

#1) On December 13, 2011 at 1:16 PM, IBDvalueinvestin (99.64) wrote:

If Israel attacks IRAN we will be paying probably over $300/bbl of oil.

See what the war would look like if Israel attacks IRAN:

 http://www.truth-out.org/what-israels-war-against-iran-would-look/1323374542

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#2) On December 13, 2011 at 3:34 PM, chk999 (99.98) wrote:

The market isn't reacting to this.

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#3) On December 13, 2011 at 3:42 PM, Hawmps (< 20) wrote:

When most of our oil comes from Canada and Mexico and more, and more coming from domestic sources and soon Brazil will be a bigger player, I'm not too concerned.

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#4) On December 14, 2011 at 12:09 PM, drgroup (68.92) wrote:

Good news, maybe we will start to drill for more oil in our own country. We have plenty.....

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