Iran is trying to jack up oil prices. Will it work?

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During the Iran hostage crisis, Ayatollah Ruhollah Khomeini famously proclaimed, “America can’t do a damn thing against us.” Forty years later, tensions are flaring again — but when it comes to oil markets, now it’s Iran whose options are limited

poster="http://v.politico.com/images/1155968404/201906/1887/1155968404_6048022275001_6048027772001-vs.jpg?pubId=1155968404"“They’re lashing out,” said Phil Flynn, a senior market analyst at Price Futures Group. “I think they’re desperate. I think they’re angry.”one-fifth of petroleum liquids consumption

Choking off the Strait of Hormuz, or staging a major attack or cyberattack on an oil facility, would certainly disrupt crucial oil supplies. The U.S. and others might have to redirect Gulf oil through other pipelines, or tap the Energy Department’s Strategic Petroleum Reserve, to make up for the shortfall.

“They’re trying to get a repositioning on the state of negotiations, because they are boxed in,” said Frank Verrastro, a senior vice president at the Center for Strategic and International Studies.

 

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Yes

Doesn't the US get mosts of it's foreign oil shipments from places other than Iran & The Middle East? Seems to me I remember Canada being our biggest foreign oil supplier...

Bullshit

Yes ,45 is likely to wipe country off the face of the earth

Now we blame Iran?

We have more oil than any country good luck musmucks

Fuck yes it will work! Y’all ain’t been paying attention~

The US has had an excess of crude oil for some time now. We export the excess. Why should domestic gasoline companies charge more at the pumps unless it’s price gouging ?

Politico=FakeNews! Pompeo GulfofOman Narrative Torpedoed by Vessel’s Japanese Owner Japanese Owner Debunked PompAss! HandsOffIran

No.

Iran doesn't need to do nothing. The sanction makes it because of the basic economic principle that when you have less oil in the global market, the prices go up, while when you have more oil supply, the prices go down. So, the sanctions on Iran determine the global oil prices.

Do we care

Gas prices dropped a dime in the midwest from last night

Iran doesn't have oil.

Yes

Only on the United States who’s not buying oil from Iran anyway right

sanción, ya hecha

If Iran is trying to jack up oil prices, it's because of the aggression of the DerangedDonald swamp.

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