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The West Blinks – Iran Embargo Likely To Be Delayed By Six Months

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Zero Hedge
Thursday, January 12, 2012

UPDATE: Oil Sub $100.

And so the escalation ends, if only for the time being, as Iran chalks a (Pyrrhic?) victory.

- EU IRAN OIL EMBARGO SAID TO BE LIKELY DELAYED BY SIX MONTHS

Why? Because the world slowly realized that the potential surge in oil prices would tip a world already on the verge of a recession even deeper into economic contraction. Not rocket science, but certainly something the US president apparently has been unable to comprehend, especially if hoping that he would merely transfer exports from Iran to his close ally Saudi Arabia which would cement its European market monopoly even further. Or, perhaps, someone just explained to Obama that Embargo in January + QE3 in March = No Reelection…

In other news, crude is now dumping.

The West Blinks   Iran Embargo Likely To Be Delayed By Six Months 2012012 oil1 0

This article was posted: Thursday, January 12, 2012 at 3:01 pm





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