************* Eveyone might want to read this article there is more to the Story from the TV to the papers that we are reading !!!!!

Parliamentary Oil: closing the Strait of Bab al-Mandab would raise global oil prices





04/16/2015 10:09

Tomorrow Press / Baghdad: I expected the oil and energy parliamentary, on Thursday, rising global oil prices after the closure of the Strait of Bab el Mandeb because of security events in Yemen.

A member of the Commission on oil and energy parliamentary, Awad al-Awadi's "Tomorrow's Press," that "most of the Gulf countries and East Asia, which has a wealth of oil and exported to the West and the world pass through the Strait of Bab el-Mandeb," pointing out that "the weights on closing raises fears of some exporting countries and imported crude oil. "

Al-Awadi said that "the continuation of security events or high intensity and tense will lead to the closure of the Strait of fear of targeting ships laden with oil that pass through the strait, which will lead to higher oil prices to the intensity of demand for it."

He explained that "Iraq may benefit from higher prices, because oil will be exported via the lines that pass through Jordan and Turkey and then to the rest of the states."

Raises conflict in Yemen risks to the crowded global shipping lines, which may impede the crossing ships in the Strait of Bab narrow Mandab which crossed about 4 million barrels of oil per day, and the number of oil ships in which 21 thousand pass piece freely annually, the equivalent of 57 pieces Daily, through which every year 25 thousand ships and represents 7% of the global navigation.


http://alghadpress.com/ar/news/29761/النفط-النيابية-اغلاق-مضيق-باب-المند