Oil Trades Near Six-Week High on Iran Threat to Strait of Hormuz Shipping

December 28, 2011 07:21


About 15.5 million barrels of oil a day, or a sixth of global consumption, passes through the Strait of Hormuz between Iran and Oman at the mouth of the Persian Gulf, according to the U.S. Energy Department. Iran’s navy started a 10-day exercise east of the passage that involved the use of submarines, ground- to-sea missile systems and torpedoes, Press TV said Dec. 24. – Bloomberg



Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere: