Iran blocks street by Hormuz: Oil prices rise dramatically!
Iran blocks street by Hormuz: Oil prices rise dramatically!
The geopolitical location in the Middle East remains tense after Iran has threatened to block the strategically important street from Hormuz. This meter that separates Iran and the United Arab Emirates plays a crucial role in global oil trade and is of great importance for many countries. According to Krone , the threats of the Iranian government, especially after an American attack, unsettled the oil markets and led to an open increase in oil prices. After a short recovery in the middle of the week, the nervousness remains noticeable among investors, which again underlines the importance of this passage.
Especially for European countries like Austria, a blockade could have significant economic consequences. The sensitivity of the markets against such threats illustrates how strongly the geopolitical tensions can affect oil prices. This raises questions about the future stability in the oil sector, which is endangered by this unpredictable developments.
new oil pipeline project of Iran
In order to diversify the export of oil and reducing the dependency on the Hormuz street, Iran has started expanding a new pipeline. The Goreh-Jask-Pipeline project, about the Deutsche Wirtschaft Nachrichten, has already started with the offshore laying of pipes and has been completed in the first phase. This pipeline extends over 1,100 km from the Goreh oil terminal in Bushehr to the sea of Oman and will enable Iran to export 350,000 barrels of crude oil every day.
The early production phase of the Jask Oil Terminal Development project could be put into operation at the end of March. This is an important step, since about 90 % of Iranian export oil are currently loaded via the island of Kharg, which is considered endangered due to US sanctions. The new pipeline will enable Iran to export oil without being subject to the existing sanctions, and could therefore redesign the geopolitical map in the oil sector in the long term.
effects on the markets and inflation
The geopolitical tensions in the Middle East have far -reaching effects on the global markets, especially in the oil sector. Investments in the Iranian oil projects and the possibility that the Hormuz road could be blocked are factors that lead to increased volatility. According to lgt , with increasing uncertainty, the inflation rates are also increasing, since the costs of energy and raw materials further climb.
These developments show how important the observation of geopolitical events for investors and political decision -makers is because they can have a direct impact on the economic situation in Europe and beyond. The situation remains tense and requires constant observation of current developments.
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| Ort | Jask, Iran |
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