Bank Of Baku

Hussain Shahristani: “If Hormuz strait is closed, oil price will increase to $150”

Hussain Shahristani: “If Hormuz strait is closed, oil price will increase to $150”
# 30 June 2012 15:45 (UTC +04:00)
Baku. Konul Jafarli – APA. “If Iran closes Hormuz strait, the oil price will increase to $150”, said the Iranian Deputy Prime Minister Hussain Shahristani.

He noted that, $100-price is suitable price for both producer and purchaser: “It’s difficult to forecast oil price in the world market. If the nuclear tension between Iran and West increase, it’s possible oil price to hit record. If Hormuz strait is closed, the oil price will increase to $150”.
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