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Iran warns of closing strategic oil route

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Psalm 51:17
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« Reply #30 on: January 25, 2012, 09:20:50 pm »

It's all just a dog and pony show. And the plus they get out of it is oil sold at higher prices.

Again, related...

US Airways profit falls 36% on fuel costs
25 January 2012, by Mia Lamar (MarketWatch)
http://www.marketwatch.com/story/us-airways-profit-falls-36-on-fuel-costs-2012-01-25

US Airways Group Inc.'s fourth-quarter earnings dropped 36% as the airline struggled under a sizable jump in fuel costs that masked stronger revenue.

Shares were up 4.8% to $6.72 in premarket trade as core earnings far exceeded analyst estimates.

US Airways, long one of the most confident carriers in the industry on the strength of domestic demand, had expected another solid quarter for air travel.

Still, fuel costs remained a nagging concern for the mostly-domestic operator, which reported its consolidated fuel expense jumped $232 million from a year earlier.

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« Reply #31 on: January 25, 2012, 09:48:53 pm »

http://theextinctionprotocol.wordpress.com/2012/01/25/uk-ready-to-send-more-warships-into-gulf-in-clear-signal-to-tehran/

January 25, 2012 – MIDDLE EAST – Philip Hammond said contingency plans were in place to send extra warships, aircraft and troops to the region if it became necessary. He said the decision to send a flotilla led by the American aircraft carrier USS Abraham Lincoln through the Strait of Hormuz – which Iran had threatened to block – sent “a clear signal about the resolve of the international community to defend the right of free passage through international waters.” A British frigate, HMS Argyll, and a French warship were part of the convoy, which sailed within a few miles of the Iranian coast. The UK has about 1,500 naval personnel in the Indian Ocean serving on four minesweepers, two frigates, three support ships, a survey vessel and a hunter-killer submarine. A Response Force Task Group of Royal Marines, helicopters and naval vessels set up last year could also be deployed at short notice. HMS Daring, a destroyer with specialist air-defense capabilities, is already sailing toward Suez on a six-month mission against piracy and drug smuggling and could be diverted in an emergency. HMS Westminster, a frigate used during the Libya campaign last summer, left Portsmouth in southern England on Monday and could reach Hormuz within a week. The French frigate, La Motte Picquet, which took part in the Hormuz exercise, had departed and there were no plans for further forces to be sent, a spokesman at the Defense Ministry in Paris, Colonel Thierry Burkhard, said yesterday. But he stressed that an infantry battalion of about 650 troops and six Rafale fighter-bombers based in the United Arab Emirates would be available if hostilities break out. The U.S. has augmented its 5th Fleet at Manama Bay in Bahrain with a second aircraft-carrier, USS Carl Vinson, joining USS Abraham Lincoln. The Pentagon said the enhanced presence would continue and is considered to be adequate for whatever mission is required. “Elements within the European Union, by pursuing the policies of the U.S. and adopting a hostile approach, are seeking to create tensions with the Islamic Republic of Iran,” Ali Asghar Khaji, a senior Foreign Ministry official, said. “The behavior of the EU is irrational and will not stop the Islamic Republic of Iran from defending its national interest.” –Independent
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« Reply #32 on: January 26, 2012, 05:40:46 am »

Iran threatens to act first on EU embargo...
http://www.ft.com/cms/s/0/a3c736b0-4788-11e1-b646-00144feabdc0.html

Tehran could block oil exports...
http://www.ft.com/cms/s/0/a3c736b0-4788-11e1-b646-00144feabdc0.html

Iran-China trade soars...
http://www.breitbart.com/article.php?id=CNG.0fba0ae87a709d1765a1374d04dc31be.11&show_article=1
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« Reply #33 on: February 02, 2012, 03:11:23 am »



USS Enterprise false flag!
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« Reply #34 on: February 12, 2012, 07:23:52 pm »

The average price for a gallon of gasoline in the United States rose nearly 12 cents in the past three weeks to about $3.51, due in part to higher prices for North Sea crude oil, according to the nationwide Lundberg Survey.

The national average for a gallon of regular gasoline rose 11.57 cents to $3.5101 as of February 10, the survey of about 2,500 gasoline stations in the continental United States found.
 
That was a greater change than the 3.5-cent rise in the previous survey, which covered the two weeks that ended January 20.
 
Survey editor Trilby Lundberg told Reuters that the higher prices came as the price for North Sea Brent crude rose more than $7 per barrel. Brent prices are more volatile and sensitive to changes in the Middle East than is U.S. crude.

more:
http://www.msnbc.msn.com/id/46360396/ns/business-oil_and_energy/
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« Reply #35 on: February 15, 2012, 12:09:16 pm »

http://theextinctionprotocol.wordpress.com/2012/02/15/iran-cuts-off-oil-exports-to-6-eu-nations/

February 15, 2012 – TEHRAN — Iran’s Oil Ministry denied state media reports on the Islamic state stopping its crude exports to six European countries on Wednesday. “We deny this report … If such a decision is made, it will be announced by Iran’s Supreme National Security Council,” a spokesman for the ministry told Reuters. Iran’s English language Press TV had earlier said Tehran has stopped exporting oil to France, Portugal, Italy, Greece, Netherlands and Spain. Iran also announced it was making its own nuclear-fuel rods to power its reactors. The news means Iran’s nuclear program is more independent and self-contained than many western observers realized and that Iran’s nuclear program is here to stay. –National Post
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« Reply #36 on: February 18, 2012, 11:12:14 pm »

2/18/12

http://finance.yahoo.com/news/gas-prices-highest-ever-time-150314246.html

NEW YORK (AP) — Gasoline prices have never been higher this time of the year.

At $3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $4.25 a gallon by late April.

"You're going to see a lot more staycations this year," says Michael Lynch, president of Strategic Energy & Economic Research. "When the price gets anywhere near $4, you really see people react."

Already, W. Howard Coudle, a retired machinist from Crestwood, Mo., has seen his monthly gasoline bill rise to $80 from about $60 in December. The closest service station is selling regular for $3.39 per gallon, the highest he's ever seen.

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« Reply #37 on: February 20, 2012, 11:39:37 am »

http://finance.yahoo.com/news/oil-jumps-9-month-high-044713139.html

2/20/12

Oil jumps to 9-month high above $105 in Europe as Iran cuts supply to Britain, France

Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program.

By early afternoon in Europe, benchmark March crude was up $1.91 to $105.15 per barrel in electronic trading on the New York Mercantile Exchange. Earlier in the day, it rose to $105.21, the highest since May. The contract rose 93 cents to settle at $103.24 per barrel in New York on Friday.

Markets in the United States are closed Monday for the Presidents Day holiday.

Iran's oil ministry said Sunday it stopped crude shipments to British and French companies in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran's crucial fuel exports. They include a freeze of the country's central bank assets and an oil embargo set to begin in July.

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« Reply #38 on: February 22, 2012, 09:14:12 pm »

2/22/12

http://news.yahoo.com/price-shock-watch-cost-gas-jump-10-cents-014014447--abc-news.html

The headlines of major newspapers and TV networks this week have been dominated by rising gas prices. 
 
Drivers across the country have shared their stories on the cost - with many already paying more than $4 a gallon at the pump.  There have even been reports of gas prices rising at a rate of 10 to 15 cents in a matter of hours.     
 
Read:  How high will gas prices go?
 
The swiftness at which those gas prices continue to climb was crystal clear Wednesday night during the broadcast of ABC News' "World News with Diane Sawyer."
 
As ABC News' Cecilia Vega introduced her piece on high gas prices, the sign at the downtown Los Angeles gas station behind her showed the price of regular gas at $4.99 a gallon. However when the piece concluded nearly two minutes later the price of regular gas had jumped 10 cents to $5.09 a gallon
 
BEFORE:
 
AFTER:

Even Vega seemed truly surprised to see such a drastic change in such a short period of time, telling Sawyer that "it is almost too unbelievable to believe."
 
"It went up 10 cents?" asked Sawyer, herself shocked at what just had occurred.
 
"Ten cents during that two minutes while we were on the air," confirmed Vega.
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« Reply #39 on: February 24, 2012, 04:46:46 pm »

http://news.yahoo.com/blogs/ticket/geithner-says-iran-saber-rattling-behind-spike-gas-190350468.html

2/24/12

Iran's "saber-rattling" is helping to drive up prices at the gas pump, according to Treasury Secretary Tim Geithner.
 
"Iran's doing some saber rattling, and that's causing a little uncertainty," Geithner told CNBC's Steve Leisman Friday. He added that economic growth in the United States and other countries is also having an impact on global oil prices, by increasing confidence.
 
Geithner also warned that Iran's pursuit of a nuclear weapon could have major global economic consequences.
 
"If Iran is successful in its nuclear ambitions, the world and oil markets and the global economy and the stability in the region would be in jeopardy," he said.

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« Reply #40 on: February 26, 2012, 08:49:15 am »

Iran stops oil flow to Greece - report
26 February 2012, (RT)
http://rt.com/news/iran-oil-ban-greece-247/

Excerpt:

Iran has denied shipment of crude oil to Greece, following similar moves against Britain and France.

The moves are pre-emptive to a set of sanctions imposed by the EU, which forbids buying oil from Iran after several months of grace period.

The first oil tanker denied loading of the expected 500,000 barrels of oil in Iran has returned home, a Fars news agency report says.

The shipment was meant for Hellenic Petroleum refinery. No official comment on the failed delivery was available immediately.

Western powers have been putting pressure on Iran by crippling its oil export since December, when a ban on Iranian oil was issued by the US.

The EU, which unlike the US buys considerable amount of crude from Iran, joined the sanctions in late January.

But it allowed import to continue for six months to allow European refineries find new supply routes and possibly to adjust to different brands of crude.

Tehran however pulled the rug from under European’s feet by banning export to some EU countries ahead of the scheduled cut.

On February 19, it officially denied export to Britain and France, the two key sponsors of the EU sanctions.

On Monday, Iranian Oil Minister Rostam Qassemi warned that other European countries may be sanctioned by Tehran in a similar way, "if the hostile acts… continue”.

Back then the news sent oil prices to a nine-month high.

Greece opposed the EU move, because switching to other source of crude would cost its already debt-ridden economy dearly.

However eventually it agreed to the ban along with other EU members.
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« Reply #41 on: February 26, 2012, 02:50:56 pm »

2/25/12

Hellenic acknowledged earlier this week that it was buying oil from Iran and paying for the shipments later, terms known in industry jargon as open credit terms.

Part of the reason for swapping crude oil for products is that Hellenic is unable to obtain letters of credit from banks because of lingering default fears.

“They have liabilities and banks could come in and demand payment,” said a London-based trading head who decided not to enter talks with Hellenic, saying it was too risky for his firm.

Hellenic said that replacing Iranian oil would be “easy” with supplies from Saudi Arabia, Iraq and Russia.

However traders expect the terms offered by alternative oil suppliers to be far less generous,

as many are still unable to enter into agreements with Greece because of the risk associated with the country’s debt.

But “If something were to happen, it would be unlikely before summer,” one source said
.



Bottoms-UP-Line:

In other words, war or no war, Greece better pray that Europe at least pretend to fund the second bailout agreed upon on July 21, 2011, as otherwise, the country will be out of crude by the summer.

Of course, if there is no bailout, the country will also be broke by then too, with rioting and bank runs a daily occurrence.

FROM: As Pentagon Sends Reinforcements To Straits Of Hormuz, Iraq Redux Looms http://www.zerohedge.com/news/pentagon-sends-reinforcements-straits-hormuz-iraq-redux-looms
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« Reply #42 on: February 26, 2012, 08:32:51 pm »

Cost of gas rises 18 cents in the past 2 weeks

Though supplies remain plentiful, Mideast worries affecting market, analyst says


The average U.S. price of gasoline jumped 18 cents a gallon in the past two weeks due to rising costs of crude oil and related concerns about tensions in the Middle East, although supplies of fuel remained plentiful in most of the country, according to the nationwide Lundberg Survey.

The national average cost for a gallon of regular gasoline rose to $3.69 on February 24, according to the nationwide survey of gasoline stations in the continental United States.
 
The sting to drivers' pocketbooks follows a rise of almost 12 cents per gallon seen in the previous survey, which covered the two weeks that ended February 10.
 
"Fears about a possible hit to oil supplies from the Middle East are causing turmoil and confusion," survey editor Trilby Lundberg said in an interview.

more
http://www.msnbc.msn.com/id/46534463/ns/business-oil_and_energy/
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« Reply #43 on: March 11, 2012, 05:34:27 pm »

http://economywatch.msnbc.msn.com/_news/2012/03/11/10643351-gas-prices-up-another-12-cents-in-past-two-weeks

3/11/12

Gas prices rose by an average 12.31 cents a gallon nationwide over the past two weeks, reflecting higher crude oil prices, but the rate of increase is slowing, according to a survey.

The national average for a gallon of regular gasoline rose to $3.8148 as of March 9, according to the Lundberg Survey of gasoline retailers in the continental United States.

Drivers in Denver saw the lowest pump price at $3.36 per gallon, compared with $4.35 in Los Angeles,  the nation's highest.

The national average price jumped 18.6 cents in the previous survey.

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« Reply #44 on: March 13, 2012, 09:23:07 am »

Iran Power Declining in Oil Market as Explorers Spend $90 Billion: Energy
13 March 2012, by Ayesha Daya, Brian Swint and Rakteem Katakey (Bloomberg)
http://www.bloomberg.com/news/2012-03-13/iran-power-declining-in-oil-market-as-explorers-spend-90-billion-energy.html

Excerpt:

The Iran-driven run in oil prices to the highest since 2008 masks the Middle East producer’s diminishing importance to global oil supplies as record spending on drilling unearths reserves from Argentina to Angola.

New fields will ease pressure on prices, according to the Centre for Global Energy Studies. Futures show investors expect benchmark Brent crude to drop to less than $100 a barrel in 2015 from $125 today.

Global exploration spending, led by Exxon Mobil Corp. and Royal Dutch Shell, will jump 20% this year to at least $90 billion, Barclays Plc research shows.

Offshore drilling may unlock about 25 billion barrels of oil this year, more than four times Norway’s remaining reserves, according to Morgan Stanley.

In addition, there are so-called unconventional fields in the U.S., where oil production from North Dakota’s shale rose 75% last year, and Argentina, home to a field found by Repsol that may hold about 23 billion barrels.

“The price of oil has to come down because supply prospects are so positive,” said Manouchehr Takin, an analyst at the Centre for Global Energy Studies.

“The rate of demand isn’t going to grow as in the past as we use resources more efficiently.”

The International Energy Forum, consisting of a group of nations that account for more than 90% of global oil and gas supply and demand, gathers today in Kuwait as pressure builds on Iran from U.S., the European Union and Israel to end its nuclear research program.

The forum was founded in 1991 to discuss international energy security.
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