STOCK MARKET WATCH - Friday, 3 February 2012

[Demeter]

54. Halt in Iran oil could push crude up 30%: IMF

http://www.campaigniran.org/casmii/index.php?q=node/12096

WASHINGTON (REUTERS) - The International Monetary Fund (IMF) warned on Wednesday that global crude prices could rise as much as 30 per cent if Iran halts oil exports as a result of United States (US) and European Union (EU) sanctions.

If Iran halts exports to countries without offsets from other sources it would likely trigger an 'initial' oil price jump of 20 to 30 per cent, or about US$20 to US$30 (S$25 - S$38) a barrel, the IMF said in its first public comment on a possible Iranian oil supply disruption.

The IMF highlighted the risks of rising tensions over Iran sanctions in a note on Wednesday sent to deputies from G-20 countries who met in Mexico City last week.

The price impact caused by a cut in Iranian exports could be exacerbated by below average oil stocks in many countries, the result of tight oil market conditions through much of last year, the IMF said.

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THAT'S THE WHOLE POINT, ISN'T IT? IT'S A TWO-FER: SCREW THE IRANIANS AND THE REST OF THE WORLD BESIDES.

YOU KNOW WHAT HAPPENS WHEN CRUDE EXPLODES 20-30%?

THE MAYANS WERE RIGHT.