Can Iran Close Strait Of Hormuz After U.S. Attack On Its Nuclear Sites
The post Can Iran Close Strait Of Hormuz After U.S. Attack On Its Nuclear Sites appeared on BitcoinEthereumNews.com. The Strait of Hormuz waterway between the Persian Gulf and Gulf of Oman. It is a very strategically … More important shipping choke point with Iran to the north and UAE and Oman exclave Musandam to the south. It is the only sea passage from the Persian Gulf to the open ocean. getty Early on Sunday, the U.S. entered the cauldron of the Israel-Iran conflict with a bombing of Iran’s nuclear facilities in support of Israel. The move has again prompted calls within Iran for a retaliation involving a shutdown of the Strait of Hormuz, a key maritime artery for oil and gas shipments from the Persian Gulf out to the Gulf of Oman and beyond (see map). The U.S. dropped 14 “bunker buster” bombs against three nuclear facilities in Iran, namely Fordo, Natanz, and Isfahan, defense secretary Pete Hegseth confirmed on Sunday. Iran has vowed retaliation, with its parliament approving a closure of the Strait of Hormuz, although the ultimate decision rests with the country’s military. Oil prices, already up 20% since last month, are expected to trade higher over the coming days if the conflict escalates and there is disruption in the Strait of Hormuz. Cargo volumes lend relevance to the constant market chatter about a retaliatory blockade of the Strait by Iran. Saudi Arabia, Kuwait, Iraq, Iran and to an extent United Arab Emirates’ crude roughly equating to 30% of the world’s traded oil, as well as oil products, liquefied natural gas cargoes (equal to 20% of the global LNG trade primarily from Qatar) and one-third of the world’s liquified petroleum gas shipments, pass through the Strait daily, according to Lloyds List. That’s around 30 to 33 million barrels of oil equivalent per day. The figure includes 21 million barrels per day of crude oil and products…
The post Can Iran Close Strait Of Hormuz After U.S. Attack On Its Nuclear Sites appeared on BitcoinEthereumNews.com.
The Strait of Hormuz waterway between the Persian Gulf and Gulf of Oman. It is a very strategically … More important shipping choke point with Iran to the north and UAE and Oman exclave Musandam to the south. It is the only sea passage from the Persian Gulf to the open ocean. getty Early on Sunday, the U.S. entered the cauldron of the Israel-Iran conflict with a bombing of Iran’s nuclear facilities in support of Israel. The move has again prompted calls within Iran for a retaliation involving a shutdown of the Strait of Hormuz, a key maritime artery for oil and gas shipments from the Persian Gulf out to the Gulf of Oman and beyond (see map). The U.S. dropped 14 “bunker buster” bombs against three nuclear facilities in Iran, namely Fordo, Natanz, and Isfahan, defense secretary Pete Hegseth confirmed on Sunday. Iran has vowed retaliation, with its parliament approving a closure of the Strait of Hormuz, although the ultimate decision rests with the country’s military. Oil prices, already up 20% since last month, are expected to trade higher over the coming days if the conflict escalates and there is disruption in the Strait of Hormuz. Cargo volumes lend relevance to the constant market chatter about a retaliatory blockade of the Strait by Iran. Saudi Arabia, Kuwait, Iraq, Iran and to an extent United Arab Emirates’ crude roughly equating to 30% of the world’s traded oil, as well as oil products, liquefied natural gas cargoes (equal to 20% of the global LNG trade primarily from Qatar) and one-third of the world’s liquified petroleum gas shipments, pass through the Strait daily, according to Lloyds List. That’s around 30 to 33 million barrels of oil equivalent per day. The figure includes 21 million barrels per day of crude oil and products…
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