Oil Prices Go Nuts After Rumors That Iran Closed The Strait Of Hormuz

Oil Prices Go Nuts After Rumors That Iran Closed The Strait Of Hormuz

www.businessinsider.com

After threatening to practice drills meant to close the crucial Strait of Hormuz, rumors had Iran shutting the strait down and oil prices went crazy.

ZeroHedge reported real-time analyst Ransquawk confirmed the straight was closed and it was enough to send traders scrambling.

Read more: www.businessinsider.com...

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Ladies and Gentleman i think its safe to say that we are about to watch yet another nation attacking another nation. I am so bored of this that the level of desensitizing war has me spinning in circles.

The most alarming side to all this attack and politics is that there is a generation growing up that recognizes or assume that war is a natural life cycle.

So many lives lost, so many resources wasted, for if we had the brain of an earth worm and pulled together what we as humans have together with a single objective to expand to further planets then we wouldn't have had anything to occupy our dismal lives back on this planet. So i guess, creating proxy wars is entertainment for those who know that we neanderthals do actually require blood and suffering as a form of entertainment.

www.businessinsider.com
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reply to post by cerebralassassins


Saw lots of talk about this topic earlier today on Zero Hedge.

There's been talk from the Iranians lately that the Revolutionary Guard would soon start training exercises to "simulate" closing the Strait of Hormuz. I think badly translated news got out that made it sound like Iran is actually planning to close the strait.

We'll see what happens. Interesting days ahead, as usual.

Bloomberg reports the Strait is wide open and it's not yet known how the rumor originated.

The last line of your source confirms it was just a rumor.

I guess ATS isn't always the only place that freaks out over unsubstantiated rumors.

I knew it was wrong.

My stock prices didn't move.

Oh great. Just what we need higher oil prices.
I'm geting sick and tired of this crap.
We don't even use Iranian oil.
Facepalm

It may not be real news or conclusive news but it definitely can happen. Iran might just end up doing this anyway. You never know?

Stocks are not going to do good tomorrow either way lolz.

reply to post by Aeons


Can someone( or you ) link me a realtime oil stock market'ish thingi ? i cant find a site like that on google, tried marketwatch but nothing

I may be wrong, but a $2.37-39 increase doesn't constitute oil prices going nuts. In my opinion anyway.

While I do agree that if the Iranians close the straight (for real) then prices probably will go up. This isn't it.

reply to post by Cyanhide


Here is a real time chart of WTI Crude Oil.

www.cx-portal.com...

Originally posted by FTD Brat
We'll see what happens. Interesting days ahead, as usual.

Tomorrow's headline...

Bush Oil Co... Record Every Profits!

Time to buy more Oil shares

reply to post by NoNameBrand


Thanks mate, it does seem stable though.

Yeah, and if you wanna see how closing the strait could escalate into a world war 3 scenario - check out the 1984 movie Countdown to Looking Glass

(good movie)

reply to post by zorgon


Time to buy more guns and ammo!

Originally posted by FTD Brat
Time to buy more guns and ammo!

Been thinking of trying one of these...

LOL the price "skyrocketed" a whole 4 bucks!!!!

I dont think anyone thought that Iran had ACTUALLY closed the straight of Hormuz or the price owuld have gone MUCH, MUCH higher.

Iran IS howevere threatening to do military drills in the stright but that isnt unprecedented and they can practice and drill all they want as long as the shipping lanes stay open. Big deal.