January 2012 | Seamless Steel Tube & Pipe
Crude prices could soar if tensions between Tehran and the West go unresolved: Energy Market Analysis
Seaway pipeline reversion plans have quickly narrowed the Brent-WTI spread to about $10/bbl. However, crude glut fears returned as world pipeline crossroad Oklahoma is about to expand oil storage by 79m bbl by the end of 2012.
Following the test launching of a long-range missile, Iran warned that if an embargo on Iran’s oil exports were approved, the Strait of Hormuz would be closed. With this stance, Tehran aims to defend against further international pressure, especially after the USA enacted sanctions to penalise financial institutions for dealing with Iran’s...
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