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Shale Drillers’ $7 Billion Hedging Error

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Iranian Influence In Iraq Grows

Iranian Influence In Iraq Grows

Iranian influence in Iraq has…

Iran Announces 6 Days of Naval Exercises

It has been over a year now that Iran has been in conflict with western powers over its nuclear regime. The west believe that Iran is researching and developing the capabilities to enrich uranium to weapons grade in order to build nuclear bombs; Iran maintains that it is only enriching the uranium to levels required for medical research purposes.

Forces have been positioned in and around the Persian Gulf in order to maintain the free passage of tankers through the Straits of Hormuz, which see about 20% of world oil supply move through its waters each day.

Related Article: How Bad do Sanctions Really Hurt Iran?

Even so the Persian state never misses the opportunity to boast about the progress it is making in the development of other military equipment, and routinely holds exercises to taunt UN, US, and Israeli forces stationed around the area.

The latest exercises have been reported by the Islamic Republic News Agency, and will consist of a six day drill around the Straits of Hormuz by Iran’s navy to test defensive and missile systems, combat vessels, and submarines. The exercises will cover the Sea of Oman across to the north of the Indian Ocean, and according to Habibollah Sayari, and Iranian Navy Commander, will display “the readiness of armed and naval forces to defend Iran’s waterway and national interests.”

By. James Burgess of Oilprice.com



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