K-Points: Beyond the Headlines — War, Unrest, Commodity Prices, and Beyond
K-Points: Beyond the Headlines — War, Unrest, Commodity Prices, and Beyond
Iran: No Oil or Gas Exports from Region as Long as US Actions Continue, US crude inventories decline
In response to US attacks on Iran and the blockade of Iranian vessels, the Iran IRGC issued a statement declaring that the Strait of Hormuz is fully closed "until the end of America's mischief." According to PressTV, the IRGC further stated that "not a single drop of oil and gas will be exported from the region" as long as US actions persist.
The IRGC warned, "The enemy should know that now, with its pirates blocking the export route of oil and gas to the world from the Indian Ocean—thereby threatening the interests of America's economic rivals—it should also expect other export routes supplying US and allied interests to be blocked."
The IRGC statement further emphasized that , "Oil and gas exports from the region are either for everyone or for no one."
Meanwhile, data from the U.S. Energy Information Administration (EIA) released on Wednesday showed that crude oil inventories in the United States decreased by 1.7 million barrels during the week ending July 10.
