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: 163

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

Burbia posted a blog post

Charlie Kirk Assaination

September 10th 2025 in Utah Turning Point USA CEO has been assassinated. Coincidentally,  answering…See More
1 hour ago
Doc Vega posted a blog post

Bow to Your New Masters

 Dr. Jerome Corsi reports that the discovery of a new wireless system that can corrupt any…See More
yesterday
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Wow I never knew penguins got down sized also over time. I knew of the Moa which is really now a…"
yesterday
Sandy posted a video

Civalyze meme

meme ad for a fake drug that would do away with black fatiguecivilyze you're not racist your just exhausted
Monday
Burbia posted a blog post

Is the Timing of Alex Jones and Charlie Sheen Connected?

Alex Jones is sperging out.Charlie Sheen is coming out of the closet.Is this why Alex Jones is…See More
Saturday
Doc Vega posted a blog post

Buying the Last haunted House on the Left (A partial autobiography)

Note to the reader, there are events here that are true and some that are fictional.Chapter IIt was…See More
Friday
Doc Vega posted a blog post

In Memory of Those Who Served

 Bullets flew and ricochetedI was on that hill todayMy Company commander got blown awayI was on…See More
Sep 4
Doc Vega posted blog posts
Sep 2
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
Sep 2
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea here's another that they say there have been modern sightings of!  The name of…"
Sep 2
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
Sep 2
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
Sep 2
Olivia Brooks updated their profile
Sep 2
John Miller was featured
Sep 2
tjdavis's 2 blog posts were featured
Sep 2
Zfort Group's blog post was featured
Sep 2
Doc Vega's 6 blog posts were featured
Sep 2
Burbia commented on tjdavis's video
Thumbnail

“What’s His Motive?” - Inside The Mind of George Soros

"Trump calls for George Soros and son to face federal…"
Sep 1
Burbia commented on tjdavis's photo
Sep 1
Profile IconSeeta Sathe and Olivia Brooks joined 12160 Social Network
Sep 1

© 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