Bet on Crude
Repeated missile test from Iran has made US to take a tough decision very soon. That may even hit Iran's economic growth. But China and Russia much depend on Iran oil supply since they are the largest producer of crude.
Iran is the world's fourth-largest crude exporter and holds the planet's third-largest supply of proven oil reserves, according to the Energy Information Administration. The country exported nearly two and half million barrels of oil a day in 2008.
Despite being a huge oil producer, Iran lacks the refining capacity to turn all that crude into gasoline. Much of that gasoline comes from India. But barring a Security Council resolution, India isn't likely to stop these shipments for a few reasons: It's big business; India imports a lot of crude from Iran and India doesn't' want Iran getting any closer to China, India's long-time rival in the region; and India has its eye on getting natural gas imports from a huge field Iran controls under the Persian Gulf. (source news CNN)
So the coming few days there will be much fire around the world. After US reveling it's stand on Iran issue, our Country will face pressure clearing it's position. So friends have a closer eye on crude and scripts linked with it.
And we all know, what happened before when crude made it's life high. Beware of market move.
Iran is the world's fourth-largest crude exporter and holds the planet's third-largest supply of proven oil reserves, according to the Energy Information Administration. The country exported nearly two and half million barrels of oil a day in 2008.
Despite being a huge oil producer, Iran lacks the refining capacity to turn all that crude into gasoline. Much of that gasoline comes from India. But barring a Security Council resolution, India isn't likely to stop these shipments for a few reasons: It's big business; India imports a lot of crude from Iran and India doesn't' want Iran getting any closer to China, India's long-time rival in the region; and India has its eye on getting natural gas imports from a huge field Iran controls under the Persian Gulf. (source news CNN)
So the coming few days there will be much fire around the world. After US reveling it's stand on Iran issue, our Country will face pressure clearing it's position. So friends have a closer eye on crude and scripts linked with it.
And we all know, what happened before when crude made it's life high. Beware of market move.
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