Iran threatens to cut off Gulf oil exports if attacked
Iran threatens to cut off Gulf oil exports if nuclear facilities are attacked The head of Iran's powerful Revolutionary Guards has threatened to hurt Western economies by cutting off Gulf oil supplies if his country's nuclear facilities are attacked. With speculation growing that Israel or America might strike Iran's nuclear sites, Major General Mohammed Ali Jafari also said Iran would consider launching missiles at the Jewish state and attacking any neighbouring countries that helped American forces. <snip> About 40 per cent of all world oil exports flow through the 35-mile wide Strait of Hormuz, banked along its northern side by Iran. With world oil supplies already constricted, any Iranian action could push energy prices through the roof. "After this action, the oil price will rise very considerably and this is among the factors deterring the enemies," said Maj Gen Jafari, whose forces have already installed missiles on the island of Abu Musa in the middle of the strait. Crude oil is now trading for more than $130 a barrel. Military analysts have often speculated that Iranian sea mines, artillery or rocket attacks could imperil tankers. During the Iran-Iraq war in the eighties, shipping came under attack, forcing the United States to intervene and defend oil supplies. <snip> http://tinyurl.com/3zfenj
Iran threatens to cut off Gulf oil exports if nuclear facilities are attacked The head of Iran's powerful Revolutionary Guards has threatened to hurt Western economies by cutting off Gulf oil supplies if his country's nuclear facilities are attacked. With speculation growing that Israel or America might strike Iran's nuclear sites, Major General Mohammed Ali Jafari also said Iran would consider launching missiles at the Jewish state and attacking any neighbouring countries that helped American forces. <snip> About 40 per cent of all world oil exports flow through the 35-mile wide Strait of Hormuz, banked along its northern side by Iran. With world oil supplies already constricted, any Iranian action could push energy prices through the roof. "After this action, the oil price will rise very considerably and this is among the factors deterring the enemies," said Maj Gen Jafari, whose forces have already installed missiles on the island of Abu Musa in the middle of the strait. Crude oil is now trading for more than $130 a barrel. Military analysts have often speculated that Iranian sea mines, artillery or rocket attacks could imperil tankers. During the Iran-Iraq war in the eighties, shipping came under attack, forcing the United States to intervene and defend oil supplies. <snip> http://tinyurl.com/3zfenj