Tension Continues...
10/07/08 17:57
Secretary of State Condoleeza Rice spoke directly to Iran today and warned that the US will not retreat in the face of Iranian threats against Israel. She stated that the US will defend it’s interests and those of it’s allies. The statement comes as tensions continue to mount in the middle east, as the Iranians stage war games. Israel has voiced it’s readiness to attack if necessary. Read the story here.
Tension continues in the middle east as Iran test fired more missiles overnight. Some of the missiles were reported to have special capabilities and this time included some missiles that were fired from ships in the Persian Gulf. Iran claims the exercises are meant to show that Iran can defend itself from any Israeli, or US attack. Read the story here.
Amidst reports of weakening demand and a strengthening dollar, oil had lost more than $10 a barrel in trading earlier this week. The reports out of the middle east have erased a large part of the price drop, as tensions and rhetoric between Iran, Israel and the US continue. OPEC today also added to the woes of an already jittery market by warning that if Iran is attacked, the oil market will suffer a shortage, as the rest of the producing nations will not be able to make up the shortfall caused by the loss of Iranian oil Read the story here.
Until next time...
Tension continues in the middle east as Iran test fired more missiles overnight. Some of the missiles were reported to have special capabilities and this time included some missiles that were fired from ships in the Persian Gulf. Iran claims the exercises are meant to show that Iran can defend itself from any Israeli, or US attack. Read the story here.
Amidst reports of weakening demand and a strengthening dollar, oil had lost more than $10 a barrel in trading earlier this week. The reports out of the middle east have erased a large part of the price drop, as tensions and rhetoric between Iran, Israel and the US continue. OPEC today also added to the woes of an already jittery market by warning that if Iran is attacked, the oil market will suffer a shortage, as the rest of the producing nations will not be able to make up the shortfall caused by the loss of Iranian oil Read the story here.
Until next time...