Archive for November 16th, 2011

November 16, 2011

Brent oil price could hit $200 a barrel if Iran nuclear facilities targeted – Tehran Times

Brent oil price could hit $200 a barrel if Iran nuclear facilities targeted – Tehran Times.

Brent oil prices could well hit $200 a barrel on rising political tensions in the Middle East if occupying regime of Israel makes a decision to attack Iran’s nuclear facilities.
The main worry among crude oil traders is that Israel launches a unilateral surprise attack to try to destroy Iran’s nuclear facilities and that Iran retaliates by closing, even if only briefly, the oil flow through the Strait of Hormuz.
The strait is important because 15.5 million barrels per day of oil passes through it each day, equivalent to a third of the all seaborne traded oil.
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