Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Oil price falls after US warns Iran over threat to close Gulf supply route

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Heather Stewart
London Guardian
December 28, 2011

Oil prices fell on Wednesday after the US navy said Iran’s threat to block the strait of Hormuz, a key supply route for crude exports from the Gulf, would not be tolerated.

After Iran warned that it could respond to threatened sanctions from the US by closing the strait, a spokesman for the fifth fleet, the arm of the American navy based in Bahrain, issued a statement which said: “Anyone who threatens to disrupt freedom of navigation in an international strait is clearly outside the community of nations; any disruption will not be tolerated.”

The cost of a barrel of Brent crude fell by 82 cents a barrel to $108.45 in London trading, after rising for six successive days. In New York, US crude had fallen 87 cents to $100.47 by lunchtime.

Thorbjørn Bak Jensen, oil analyst with Global Risk Management, said: “The threat by Iran to close the strait of Hormuz supported the oil market yesterday, but the effect is fading today as it will probably be empty threats, as they cannot stop the flow for a longer period due to the amount of US hardware in the area.”

Full story here.

This article was posted: Wednesday, December 28, 2011 at 9:44 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
What They're Not Telling You About Race Riots See the rest on the Alex Jones YouTube channel.

Did Obama Order National Guard to Stand Down in Ferguson? See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.