Thursday April 25, 2019

I've Been Thinking:

Iran is responding to US threats.

Yesterday they threatened to close the Straits of Hormuz through which 20% - 30% of the world's oil travels every day.

They are also threatening Saudi Arabia and the United Arab Emirates and Bahrain. Iran is saying you think you can replace us and promise Donald Trump that you will fill the supply gap - don't count on it.

According to Iran's President Rouhani: "You whose existence is in the shadow of the Islamic Republic of Iran, how can you tell Trump that if you bring Iran's oil exports to zero we will make up for it? ... Do you understand the consequences of this statement and that it means you are a definite enemy of the Iranian people?"

Rouhani went on to say that if the United States wants to negotiate, all sanctions need to be lifted and an apology must be issued, referring to a prisoner exchange. This is Rouhani's phraseology: "Negotiation is only possible if all the pressures are lifted, they apologize for their illegal actions and there is mutual respect."

The Grand Ayatollah Khamenei has also chimed in. The Supreme Leader of Iran said: "America's efforts in sanctioning the sale of Iranian oil won't get anywhere ... We can export as much of our oil as we need and want."

This is very serious. The world oil market will feel the effects of
this standoff. Oil is now at its highest price since November.

The battle of oil on the world market has begun and Iran is not forfeiting.

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