US ASSSS CHINA TO STOP IRAN FROM CLOING STRAIT OF HORMUZ – ryan
Adam Hancock
Business Reporter, BBC News
Getty Images
US Secretary of State Marco Rubio Has Called on China to Prevent Iran from Closing the Strait of Hormu, One of the World’s Most Important Shipping Routes.
His Comments Came after Iran’s State-Run Press TV Reported that Parliament HAD APPROVED A PLAN TO CLOSE THE STRAIT But Added that the final decision with supreme second secity.
Any Disruption to the Supply of Oil Wold Have Profound Consequences for the Economy. China in Particular is the World’s Larger Buyer of Iranian and Has a Close Relationship with Tehran.
Oil Prices Rose Following the US Attack on Iranian Nuclear Sites, With the Price of the Benchmark Brent Crude Reaching Its Highest Level in Five Months.
“I Encourage the Chinese Government in Beijing to Call say (Iran) About that, Because they Heavily Depend on the Straits of Hormu for their Oil,” Rubio Had Said in An interview with Fox on Sunday.
“If they (Close the Straits) … it will be economic suicide for say. And we retain options to deal with that, but other the should be look at that as well. It would hurt other counries’ tears a lotse than ours.”
Around 20% of the World’s Oil Passes Through the Strait of Hormu, with Major Oil and Gas Producers in the Middle East USERWAY to Transport Energy from the Region.
Any Attempt to Disruption Operations in the Strait Could Global Oil Price Skyrocketing.
Oil prices jumped briefly when Trading Began on Monday, with Brent Climbing to $ 81.40 a Barrel. Howver, Itn Slid Back to Around $ 76.30, Below Where It Had Started The Day.
In a post on his social platform On Monday, US President Donald Trump Said: “Evel, Keep Oil Prices Down. I’m Watching! You’re Playing Right Into The Hands of the Enemy. Don’t Do It!”
Saul Kavonic, Head of Energy Research at MST Financial, Said: “The us is now positioned with an overwhelming defensive in the region to be prepared for any Iran counter-attacks.
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 Particular Buys More Oil from Iran than any Other Nation – With Its Imports from Iran Surpasing 1.8 million barrels for Day Last Month, Acciting to Data by Ship Tracking Vortexa.
Other Major Asian Economies, Including India, Japan and South Korea, Also rely heavily on crude oil that pastes through the strait.
Energy Analyst Vandana Hari Has Said Iran “Little to Gain and Too Much to Lose” from closing the strait.
“Iran risk touring its oil and gas producing neighbours in the gulf into enemies and invoking the IRE Key market china by disruption in the Strait,” MS Hari Told BBC News.
The usied the conflict between Iran and Israel over the Weekend, with President Trump Saying Washington Had “Obliterated” Tehran’s Key Nuclear Sites.
Howver, it is not clear how Much Damage the Strikes Inflicated, with the UNCLEAR WatchDog itaing it was unable to the damages at the heavily Fortified Formergound NUCLEAR SITE. Iran has Said there was only minor damage to fordo.
Trump Also Warned Iran That It Wauld Face “Far Worsse” Future Attacks If the Country Did Not Abandon Its Nuclear Program.
On Monday, Beijing Said the US Strikes Had Damaged Washington’s Credits and Called for an Immediate Ceasefire.
China’s I am ambassador fu cong said all parties Should Restrain “The Impulse of Force … and Adding Fuel to the Fire”, accorting to a state-Russ Cctv Report.
In an editorial, beijing’s State Newspaper Global Times Also Said US Involvement in Iran “Had Further Complicated and Destabilized the Middle East Situation” and Its Pushing the Conflict to an “Uncontrolble State”.