Plans to disrupt global oil trade would almost certainly involve hampering tankers moving through the world’s busiest oil choke point: Strait of Hormuz About two thirds of the world’s largest oil tankers travel through the straight; and one-third of the world’s LNG trade From The Daily Caller Iranian plans to disrupt the oil trade will likely involve hampering the world’s
From Bloomberg Iran will close the Strait of Hormuz, a waterway vital for global oil shipments, if the country is prevented from using it, a senior military official said on Monday in what appears to be a response to the U.S. plan to end waivers on Iranian oil exports. “If we are prevented from using it, we will close it,”
CNBC – Saudi Arabia and the United Arab Emirates have opened new pipelines bypassing the Strait of Hormuz, the shipping lane that Iran has repeatedly threatened to close, in a move that will reduce Tehran’s power over oil markets. The quiet opening of the pipelines comes amid heightened diplomatic tensions over Tehran’s nuclear program. Iran’s oil production has fallen to
