[new yorker 77]

Iran initiating an attack on a U.S. Naval Vessel or a direct al Qaeda hit on Saudi Oil facilities will send oil up to $100 per barrel.

[LibLieSlayer]

It will be worth $200.00 a barrel to bust their ass finally. Oh, it will also come down again, after we rid the world of that islamic crap pile!!!

LLS

[sully777]

The price of oil per barrel reached one of its lowest historic levels in 1985-87. Guess what conflict was occurring at the time? Iran-Iraq War.

Iran and Iraq threatened to close the Straits on several occasions. IIRC, Iran laid mines and attacked ships. The US sent a military attachment to the Persian Gulf. This was the time when the US shot down an Iranian 747 that was flying too close to the fleet.

If I also recall, the nations of the world built pipelines through the ME to the Med and Indian Ocean to offset any complications in the Iran-Iraq conflict.

NO ONE WILL ALLOW THE STRAITS TO CLOSE, MOST IMPORTANTLY THE ARAB STATES. This is pure, unadulterated speculation on the part of futures traders.