• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 17 mins Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 41 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 4 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days Nord Stream - US/German consultations
  • 408 days Class Act: Bet You've Never Seen A President Do This.
  • 4 days An Indian Opinion on What is Going on in China
  • 4 days Can Technology Keep Coal Plants Alive and Well?
  • 1 day Forecasts for Natural Gas
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 4 days Storage of gas cylinders
  • 5 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Expert: Chances Of U.S.-Iran War Are At Least 50%

There’s at least a 50-percent chance that the rising tension between the United States and Iran could escalate into a conflict that would disrupt supplies, Fereidun Fesharaki, a former energy advisor in Iran in the 1970s and now chairman at consultancy Facts Global Energy, told CNBC.

Earlier this month two oil tankers were attacked in the Gulf of Oman, just outside the Strait of Hormuz, which connects the Persian Gulf with the Gulf of Oman and the open seas. The daily flows of oil through the Strait of Hormuz account for around 30 percent of all seaborne-traded crude oil and other liquids. While Iran vehemently denies involvement in the attacks on the two oil tankers, the U.S. is blaming the Islamic Republic of being behind the attacks.

Days later, Iran shot down a U.S. drone over the Strait of Hormuz, claiming it had violated Iran’s air space. The U.S. says that the drone was in international air space.

The U.S. had apparently prepared a response to the downed drone with strikes on Iranian targets, before U.S. President Donald Trump stopped a planned strike 10 minutes before it begins, because, he said, it was “not proportionate to shooting down an unmanned drone.”

Had President Trump gone ahead with those strikes, oil prices would have jumped by $5 to $10 a barrel because of the geopolitical risk premium, Fesharaki told CNBC.

The expert sees a 50-percent or more chance that the U.S. and Iran will become involved in some kind of conflict, although it may not be a “full war.” Related: Hedge Funds Halt Selloff In Oil As Mid-East Tensions Spike

“We have to remember Iran is a regional superpower. U.S. says ‘I’ll put you in a box, please die.’ They (Iran) are not going to stay in a box and just die,” Fesharaki told CNBC.

“They will strike back one way or the other; I think chances of tensions becoming bigger is very, very high in the near future,” the expert noted.

The U.S. imposed new sanctions on Iran on Monday, with “hard-hitting” sanctions on Iran’s Supreme Leader.

Iran slammed those sanctions as “outrageous and idiotic,” with Iranian media reporting that Iran’s President Hassan Rouhani said that the sanctions against the Ayatollah were “an unwise move” and that “The new US measures are the result of their frustration and confusion over Iran. The White House has mental disability.”  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News