Oil prices are rising, a gallon is now $3.65 nationally

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TweetYumBy Chris Kahn, Associated Press – DesertNews.com NEW YORK — Oil prices are approaching last year’s highs as tensions increase over Iran’s nuclear program. The rise pushed gasoline prices on Friday to a national average of $ 3.65 per gallon, the highest ever for this time of year. Western nations fear Iran is building a […]

Britain, US and France send warships through Strait of Hormuz

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TweetYumShareThis Britain, US and France send warships through Strait of Hormuz –The flotilla will have passed within a few miles of the Iranian coastline. 23 Jan 2012 Britain, America and France delivered a pointed signal to Iran, sending six warships led by a 100,000 ton aircraft carrier through the highly sensitive waters of the Strait […]

Oil Prices Could Soar 80% If Iran Shut Hormuz: Analyst

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TweetYum By: John Melloy, CNBC.com If Iran were to shut down the Strait of Hormuz, a key oil transportation route where millions of barrels travel out of the Persian Gulf every day, Brent crude [LCOCV1 112.27 — UNCH] would surge to between $ 150 and $ 200 a barrel, according to an oil analyst with […]

UK may take military action if Iran blocks Strait of Hormuz

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TweetYumShareThis UK may take military action if Iran blocks Strait of Hormuz 05 Jan 2012 The UK may take military action against Iran if it carries out its threat to block the Strait of Hormuz, Defense Secretary Philip Hammond will warn in a speech in Washington today. Any attempt by Iran to block the strategically […]

Strait of Hormuz standoff continues as Iran films US aircraft carrier

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TweetYumShareThis Strait of Hormuz standoff continues as Iran films US aircraft carrier –Video played on state television 29 Dec 2011 Iran claimed to have successfully taken surveillance footage of a US aircraft carrier near the Strait of Hormuz today as both countries raised the stakes in their standoff over the critical oil route. Admiral Habibollah […]