Traders
fear Straits of Hormuz closure
London
– West Texas Intermediate Crude futures surged to nearly $88 per
barrel today on news of Iran's threats to close the Straits of Hormuz
to tanker traffic.
According
to a Wall Street Journal report, embargo and sanction threats by
western nations seeking to cool the Shiite republic's nuclear aims
have prompted what traders have begun to regard as an ongoing drama
in the continuing story of mutual antagonism between Islamic
politicians and Zionist Israelis rattling sabers.
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