CNBC - Oil could top $200 if Saudi-Iran war breaks out

Oil could top $200 if Saudi-Iran war breaks out

  • The threat a Saudi-Iranian war is looking increasingly credible as tensions rise in the Middle East.
  • The impact on the global economy would be severe. Oil could rise to $200 per barrel.
  • The U.S. must drop the inflammatory rhetoric and calm tensions in the Middle East.
Steven Kopits, managing director, Princeton Energy Advisors

Published 3:34 PM ET Fri, 10 Nov 2017 Updated 5 Hours Ago
https://www.cnbc.com/2017/11/10/saudi-iran-war-would-create-domino-...

Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be an unmitigated disaster for the region and the world.

Last week, Houthi rebels in Yemen launched a missile targeting a Saudi airport near Riyadh. The missile was intercepted, but a Saudi-led military coalition battling the Yemeni rebels called the attack a "blatant military aggression by the Iranian regime which may amount to an act of war." The Saudis reserved the "right to respond", according to the official Saudi Press Agency.

The major OPEC oil producers, all abutting the Persian Gulf, export almost 20 percent of the world's oil supply through the Strait of Hormuz, which connects the Persian Gulf to global markets. The strait, a mere 34 miles wide at its narrowest, sits pinched between Iran to the north and Oman to the south. Were a war between Saudi Arabia and Iran to erupt, this chokepoint could easily be closed.

Indeed, shipping could stop even before a single ship is damaged. If insurers perceive an imminent risk of attack on a tanker in the region, they would either suspend insurance or charge exorbitant rates for coverage. Under the circumstances, vessel owners could opt to wait out the hostilities rather than risk their tankers.

CONT.

Views: 165

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone left a comment for Tammy
"Welcome"
5 hours ago
tjdavis posted a video

Mike Benz: DARPA & USAID are Weaponizing Music to Control Human Behavior

Watch every episode ad-free & uncensored on Patreon: https://patreon.com/dannyjonesMike Benz is a former State Department official and current Executive Dire...
15 hours ago
Tammy is now a member of 12160 Social Network
yesterday
Less Prone commented on cheeki kea's photo
Thumbnail

The Cartel

"In his 1995 book; Bloodlines of the illuminati, Frits Sringmaier listed the following 13…"
yesterday
tjdavis posted a photo
yesterday
tjdavis posted a blog post
Tuesday
Less Prone commented on Doc Vega's blog post What Four UFO Whistle Blowers All Suffered in Common?
"This falls in the category of political assassination, a very shameful policy of eliminating people…"
Tuesday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Doc Vega's blog post The Forest Devil
"cheeki kea Thank you, just one thing. The Choctaw Indian who came to the rescue was a war veteran…"
Monday
cheeki kea commented on Doc Vega's blog post The Forest Devil
"Well that is one fine story you've got going there Doc V. with a very interesting roll up. I…"
Monday
Doc Vega commented on Doc Vega's blog post “Night of Horror” Finland WWII 1939 and a Russian Massacre
"Just another bizarre chapter in WWII that seems more suspect as paranormal."
Sunday
Doc Vega's 7 blog posts were featured
Sunday
Burbia's blog post was featured

Former President Trump?

When was this article written? It is attributed to Victor Davis Hanson. He is a Fellow at Hoover…See More
Sunday
Less Prone commented on Burbia's blog post Former President Trump?
"It must be an unintended mistake "former". But that Trump demanded to keep Khan away is a…"
Sunday
Less Prone favorited Doc Vega's blog post The Mistake We Made in America
Sunday
Less Prone favorited Doc Vega's blog post “Night of Horror” Finland WWII 1939 and a Russian Massacre
Sunday
Less Prone commented on Doc Vega's blog post “Night of Horror” Finland WWII 1939 and a Russian Massacre
"Quite an uplifting story of the winter war. Finland was overpowered by ten to one and could still…"
Sunday
Doc Vega posted a blog post

Elon Weighs in on Charlie Kirk's Assassination and How it is an Instrument of Social Control

For a very long time now there has been in place mass population behavioral control operations that…See More
Saturday
Doc Vega commented on Doc Vega's blog post The Forest Devil
"Less Prone Thanks Buddy I worked on it for 3 days! "
Friday
Less Prone favorited Doc Vega's blog post The Forest Devil
Friday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted