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Iran Warns Oil Could Hit US$200 as Strait of Hormuz Remains Blocked

Iran has warned global markets to prepare for oil at  US$200 per barrel , escalating rhetoric as attacks intensify and shipping through the Strait of Hormuz remains effectively frozen. While oil prices have retreated from recent highs near US$120, Tehran’s message underscores the growing risk of a prolonged energy shock. Key Takeaways Iran warns oil could surge to US$200 per barrel Strait of Hormuz remains blocked, disrupting 20% of global oil flows 14 merchant ships reportedly struck since conflict began IEA expected to propose record 400 million-barrel reserve release Markets currently betting conflict may be contained Oil Market on Edge Iran’s military command said oil prices depend on regional security — warning the world to prepare for US$200 crude if instability persists. The Strait of Hormuz, a narrow chokepoint along Iran’s coast, normally handles: About 20% of global oil shipments A significant share of global LNG trade So far: At least 14 ships have reportedly been struck...
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Xbox 360 consoles sold passed 55 millions

If you are a big fan of gaming console, you'll realize that Wii, PS3 and Microsoft Xbox 360 are the top contender...

But when I read about the news of 55 millions consoles of Xbox 360 sold in the United States, we have a clear winner...it really tempt me to buy it as well since my brother will be moving to his new house soon...all the more with Kinect...

But I guess now is not the right time...this is because I am just starting to work...I'll need to spend a lot on working attire...then I want to spend more on investment and studies in the coming years...

Haha!! Suddenly thought of blogging bout this while sitting in the car...anyway guess that's it for now...

- Posted using BlogPress from my iPhone

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