Holy Shit! It's On: Iran Closes Straits Of Hormuz, Oil Explodes

[Spectrism]

Iran needs to learn how to play the word game.

They can announce to the world that they do indeed have a nuclear weapon program called: the Nuclear Peace Project.

Everybody loves peace, right?

Or, they could call it: the World Peace and Security Nuclear Weapons Development Program.

Or, they could stick with their catchy: Wipe Israel Off the face of the Earth Nuclear Aggression Plan.

[mamboni]

I wouldn't blame Iran if they kept the strait closed until all sanctions are lifted.
Iran is under attack. Now would be a good time to flex their muscle and stick it to em!

It's their trump card. And we are forcing them to play it. IMHO, NATO will have no choice but to attempth to prevent Iran from closng the straits because western economies cannot stand the stress of an oil price shock. NATO will view Iran's "exercise" as an act of war.

[JJ.G0ldD0t]

Geez guys... you all are gonna be on the Iranian cheerleading squad- right until they EMP us.
These governments deserve each other and everyone else suffers.

[JJ.G0ldD0t]

It's their trump card. And we are forcing them to play it. IMHO, NATO will have no choice but to attempth to prevent Iran from closng the straits because western economies cannot stand the stress of an oil price shock. NATO will view Iran's "exercise" as an act of war.

That makes too much sense- and its too apparent.

I always thought we'd never see it coming.

[beefsteak]

Spec,
there's always the Ba'al v Yahweh bumper sticker...

Surprised you being a Bible thumper and all, missed the opportunity to post that version...

[EE_]

It's their trump card. And we are forcing them to play it. IMHO, NATO will have no choice but to attempth to prevent Iran from closng the straits because western economies cannot stand the stress of an oil price shock. NATO will view Iran's "exercise" as an act of war.

If it were me, I'd say it was only an exercise and quickly bring everything I had to keep it closed.
Bring war ships, old ships, underwater mines, etc. Turn it into a big junk pile if need be.

[osoab]

Update: It's Not On Just Yet: Iran Denies Earlier Reports:... Iran Closes Straits Of Hormuz, Oil Explodes

[beefsteak]

It's their trump card. And we are forcing them to play it. IMHO, NATO will have no choice but to attempth to prevent Iran from closng the straits because western economies cannot stand the stress of an oil price shock. NATO will view Iran's "exercise" as an act of war.

Mamboni,
I'm of the opinion that "the straits of Hormuz threat" and the "30% of all oil goes through there" are attached at the hip.

Truth is, and has been exposed earlier here and elsewhere, that less than 10% of the world's oil moves thru SoH.

Mostly the oil comes out of European ports and flows E and South...

SoH for all practical purposes is yesterday's news. They can practice all they want, but if they expect to really use Oil as a threat card, they better get back to blowing up pipelines. WAAAAAAAAY more effective.

Kind of hard to blockade a basically unused FORMER oil chokepoint.

I'm thinking Tyler jumped the gun here, and a $2 move higher in oil as the result of this saber rattlin', ho-hum event is no big "explosion" higher. Kind of surprised at that, since I like reading Zero.

Now if it would have gone $96 to $250 in one gigantic thrust upwards, I'd be impressed. That not being the case, all this $2.20 ho-hum spike is reactive short covering by the floor traders on the NYMEX! Besides, Gold went down $10 high to low this AM...that's not a telegraph of a scared world market place.

At the moment, the Iranian towel heads just got their turban twisted for the most part.


beefsteak

[palani]

Odd .. gold usually follows oil. Gold is down $10.

[EE_]

Mamboni,
I'm of the opinion that "the straits of Hormuz threat" and the "30% of all oil goes through there" are attached at the hip.

Truth is, and has been exposed earlier here and elsewhere, that less than 10% of the world's oil moves thru SoH.

Mostly the oil comes out of European ports and flows E and South...

SoH for all practical purposes is yesterday's news. They can practice all they want, but if they expect to really use Oil as a threat card, they better get back to blowing up pipelines. WAAAAAAAAY more effective.

Kind of hard to blockade a basically unused FORMER oil checkpoint.


beefsteak

Iran is probably eyeing that option.