Now Iran on a tab, something is not straight here. Oil companies go for sky-high profits?
Read more at: http://www.aljazeera.com/news/middleeast/2012/01/201214173537709411.html
|Iran began naval exercises in the Arabian Gulf last month, and has warned of blocking the Strait of Hormuz [EPA].|
To give you a sense what in stake here, the picture of the Strait of Hormuz is below,- Iran indeed doesn't need much to close the straight and cause a major price shock.
|Closing the Strait of Hormuz would cause spike in oil prices [Al Jazeera]|