One might think the US and EU would have enough economic problems already to risk oil soaring to stratospheric heights by an embargo of Iranian oil. Unfortunately, common sense never gets in the way of bureaucrats and fools or their foolish missions.
The best news out of this mess is that oil is fungible, and perhaps embargo disruptions are already priced in. Regardless, as long as Iranian oil gets through, anywhere, prices will not get out of hand.
With that in mind, it would not surprise me one bit to see China send ships to the Gulf, stating flat out that China will defend its right to not have the US interfere with China's oil needs.
For more: US, EU Warmongers Wage Economic War on Iran :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
No comments:
Post a Comment