• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Could Venezuela become a net oil importer?
  • 6 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 17 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 14 hours Gazprom Exports to EU Hit Record
  • 15 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 14 hours Could oil demand collapse rapidly? Yup, sure could.
  • 50 mins Oil prices going Up? NO!
  • 14 hours Oil Buyers Club
  • 17 hours Why is permian oil "locked in" when refineries abound?
  • 7 hours Oil prices going down
  • 17 hours EVs Could Help Coal Demand
  • 23 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 23 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 5 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 11 mins Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Saudi Arabia turns to solar
Why OPEC Won't Flood The Oil Market

Why OPEC Won't Flood The Oil Market

Saudi Arabia and Russia are…

Iranian Naval Commander Says Straits of Hormuz will not be Closed

Iranian politicians have often said that they would consider blocking the Straits of Hormuz in response to US and EU sanctions that are exerting economic pressure on the Gulf state in order to force more transparency over the nuclear enrichment program.

However in a move that reduces the potency of those threats, Alireza Tangsiri, deputy naval commander in Iran's Revolutionary Guards, has come out and stated that whilst “the enemies constantly state that the Islamic Republic of Iran intends to close the Strait of Hormuz, we say that common sense does not dictate that Iran would close the Strait of Hormuz as long as it makes use of it.”

This follows a similar thought given by Iran’s Foreign Minister Ali Akbar Salehi to Reuters earlier this month; that Iran will not follow through on any threats to block the Straits unless their own vessels were first denied use of the strait.

Iran’s parliament is currently considering a bill which recommends closing the straits in retaliation to the sanctions.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News