RE: Horn or Suez9 May 2018 05:07
Many years ago when I worked for Shell, we would be in and out of the Arabian Gulf all of the time. The Straits of Hormuz were just one of many potential areas of concern as the Iranian Revolutionary Guard claimed the right to police the area.
The US sent a Navy battlegroup to the area to keep them at bay and they did a relatively good job.
One thing I found more efficienf at dealing with these mullahs in motorboats was the sign on your funnel.
As I worked for Shell, the scallop was unmistakeable and due to Shell having a lot of interest in Iran, then I dont recall an incident where a Shell tanker was attacked during this time.
Of course that all changed when the Gulf War kicked off and we were having Iranian gunboats approach fully laden gas carriers with lit molotov cocktails in hand.
Notning focusses the mind more than an Iranian with a lit petrol bomb as you are sitting atop a huge amount of highly flammable and explosive cargo.
Still, at least it was preferable to the time we were sat at anchor Dubai as Scud missiles began landing in the water around us. No point panicking, I went out onto the bridgewing to watch them fall from the sky. Impressive but scary as hell at the same time.
So, will Trumps act cause issues at Hormuz?
Definitely
Will it affect AM? Doubtful as the US fleet will be in the region keeping watch on it all.
Will the Price of Oil increase?
$100/bbl will return if it gets a bit tasty in that region once again