Iran says Gulf oil route at risk if attacked

Iran says Gulf oil route at risk if attacked

rawstory.com

The Revolutionary Guards said Iran would impose controls on shipping in the vital Gulf oil route if Iran was attacked and warned regional states of reprisals if they took part, a newspaper reported on Saturday.

Fear of an escalation in the standoff between the West and Iran, the world's fourth largest oil producer, have been one factor propping up sky-high oil prices. Crude hit a record level on international markets near $143 a barrel on Friday.

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They in could indeed stop traffic if they really wanted to, unless we came in hard and fast. I wonder, what would this do to gas prices here domestically. Would this mean gas would skyrocket to $8-9 a gallon?

rawstory.com
(visit the link for the full news article)