Iran: The Strait of Hormuz Will Be Closed if the Economic War Continues.
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The US has prepared a sanctions package targeting countries that maintain trade relations with Iran. Tehran, in turn, threatened to completely close the Strait of Hormuz, saying "Not a single drop of oil can pass through."
Ormuz Strait: the crude seems calm, but stocks at the lowest and refined products at $150 reveal a shock already at work...Source
I started Monday morning with an eye on the price of oil and on the opening of Hong Kong, and what I see is a market that still doesn’t know whether to reward the financial pressure on Tehran or protect itself from the next sledgehammer. Brent’s barrel is 92 dollars, 2.3% below the previous shutdown. However, the Iranian threat of blocking the Strait of Ormuz keeps alive a risk premium that is felt in the main Asian squares. Monday’s data: oil d…
Mohsen Rezaei, Secretary of Iran's Supreme National Security Council, announced that oil exports from the Strait of Hormuz and the Persian Gulf would be completely halted if the economic war continues. He accused countries participating in the US economic policies of committing an act of war.
Iran could stop all of its oil exports if the United States continues its economic war against it.
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