Oil to $143

Oil above $143 this morning as the dollar weakens further and an Iranian general threatens to choke off the Strait of Hormuz:

In a report published Saturday in the conservative Jam-e-Jam newspaper, Gen. Mohammad Ali Jafari said that if Iran were provoked, it would also move to control a key oil passageway in the Gulf.

Iran is the world’s fourth-largest oil exporter and about 60 per cent of the world’s oil passes through the strategic Strait of Hormuz.

See Also:
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Gazprom CEO: Oil Going to $250, OPEC Can’t Stop It, and We Will Be a $1 Trillion Company
Offshore Oil Not a Fix: Decade Before New Drilling Helps Prices

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