US Secretary of State Marco Rubio has called on China to Prevent Iran from Cllosing the Strait of Hormuz, One of the World’s Most Important Shipping Routes.
His comments came after iran’s state-run press TV reported that their parliament had plan to close the strait but added that the final decision lies with the supreme National Security Council.
Any Disruption to the Supply of Oil Would Have Profound Consequences for the Global Economy. China in Private is the World’s Largest Buyer of Iranian Oil and Has a Close Relationship with Tehran.
OIL PRICES HAVE SURGED FOLLOWING THE US ‘ATTACK, WITH THE PRICE OF THE BENCHMARK Brent Crude Reaching Its Highest Level In Five Months.
“I ENCOUNHARAGE The Chinese Government in Beijing To Call Them (Iran) About That, Because They Heavily Depending on the Straits of Hormuz For Their Oil,” Marco Rubio Had Said in an interview with Fox News on Sunday.
“If they [close the Straits]… it will be economic suicide for them. And we retain options to deal with that that, buther country belld be locking at that as well. It Would Hurt other country ‘Economies a lot works Than orrs. “
Around 20% of the World’s Oil Passes through the Strait of Hormuz, with Major Oil and Gas Producers in the Middle East Using the Waterway to Transport Energy from the region.
Any Attempt to Disrupt Operations in the Strait Could Could Send Global Oil Prices Skyrocketing.
They Jummpd to Their Highest Since Januarary, with the Price of Brent Crude Reaching $ 78.89 A Barrel As of 23:22 Gmt Sunday.
“The Us Is Now Positioned with an Overwhelming Defense Posture in the region to be Prepared for Any Iran Counter Attacks. But the Risk For Oil Prices is the Side Cour Scale Severly Further,” Said Saul Kavonic, Head of Energy Research at MST Financial.
The Cost of Crude Oil Affects Everything from How Much It Costs To Fill Up Your Car To the Price of Food at the Supermarket.
China in Private Buys More Oil From Iran Than Any Other Nation – With It Oil Impresses From Iran Surpsing 1.8 Million Barrels Per Day Last Month, According to Data by Ship Tracking Firm Vortexa.
Energy Analyst Vandana Hari Has Said Iran has “Little to Gain and Too Much to Lose” From Closing The Strait.
“Iran Risks Turning its Oil and Gas Producing Neighbouts in the Gulf Inte Enemies and Invoking The Ire of Its Key Market China by Disrupt Traffic in the Strait,” Hari Told BBC News.
[BBC]
The US Joined the Conflict Between Iran and Israel Over the Weekend, with President Donald Trump Saying Washington Had “Obliterated” Tehran’s Key Nuclear Sites.
However, It’s Not Clear How Much Damage The Strikes Inflicted, With the Un’s Nuclear Watchdog Saying It Was UNable to Assess The Damage at the Heavily Fortified Forny Underground Nuclear Site. Iran has Said there was only minor Damage to Forno.
Trump Also Warned Iran That They Wold Face “Far World” Future Attacks if they did not abandon the nuclear program.
On Monday, Beijing Said the US ‘Attack Had Damaged Washington’s Credibility and Called for An ImMEDIATE CEASEFIRE.
China’s Un Ambassador Fu Cong Said All Parties Should Restrain “The Impulse of Force … and Adding Fuel to the Fire,” According to A State-Run CCTV Report.
In an editorial, Beijing’s State Newspaper Global Times Also Said US Involvement in Iran “Had Further Complicated and Featured the Middle East Situation” and That It Was pushing the conflict to an “Uncontrollable State”.
