From The New York Times/Reuters:TEHRAN (Reuters) - The Revolutionary Guards said Iran would impose controls on shipping in the vital Gulf oil route if Iran was attacked and warned regional states of reprisals if they took part, a newspaper reported on Saturday.
Fear of an escalation in the standoff between the West and Iran, the world's fourth largest oil producer, have been one factor propping up sky-high oil prices. Crude hit a record level on international markets near $143 a barrel on Friday.
Speculation about a possible attack on Iran because of its disputed nuclear ambitions has risen since a report this month said Israel had practiced such a strike, prompting increasingly tough talk of retaliation, if pushed, from Tehran.
Fear of an escalation in the standoff between the West and Iran, the world's fourth largest oil producer, have been one factor propping up sky-high oil prices. Crude hit a record level on international markets near $143 a barrel on Friday.
Speculation about a possible attack on Iran because of its disputed nuclear ambitions has risen since a report this month said Israel had practiced such a strike, prompting increasingly tough talk of retaliation, if pushed, from Tehran.
Fear of an escalation in the standoff between the West and Iran, the world's fourth largest oil producer, have been one factor propping up sky-high oil prices. Crude hit a record level on international markets near $143 a barrel on Friday.
Speculation about a possible attack on Iran because of its disputed nuclear ambitions has risen since a report this month said Israel had practiced such a strike, prompting increasingly tough talk of retaliation, if pushed, from Tehran.
Read more ...
My Comment: The Iranians said the same thing in the 1980's. When they started to implement their strategy they got into a shooting war with the U.S. Navy. Most of their ships got sunk in the exchange. I guess the Iranians now want to start round #2.
Speculation about a possible attack on Iran because of its disputed nuclear ambitions has risen since a report this month said Israel had practiced such a strike, prompting increasingly tough talk of retaliation, if pushed, from Tehran.
Read more ...
My Comment: The Iranians said the same thing in the 1980's. When they started to implement their strategy they got into a shooting war with the U.S. Navy. Most of their ships got sunk in the exchange. I guess the Iranians now want to start round #2.