Iran 'greatest threat' to fuel suppliers

28/09/2009

The situation in Iran is the "greatest threat" to potential economic growth in 2010, an industry president has said.

Peter Beutel, president of Cameron Hanover, told the Wall Street Journal that the threat lay with the possibility of an Israeli attack on Iran's nuclear facilities combined with the chance of a potential loss of 20 per cent of the world's daily oil flow should closure of the Straits of Hormuz occur.

Analysts led by Stephen Schork described the situation as a "soap opera", saying in a report: "Every time the US, France and the UK have attempted to take a hard line with Tehran, their efforts were deflected by the vested interests of the Russians and Chinese."

The report added that the odds of the Israelis taking matters in to their own hands had shortened.

Peter Beutel is the president and chief editor of Cameron Hanover, a company that provides Energy Risk Management Services. He is also the author of Surviving Energy Prices, a complete guide to navigating the energy markets in the current economic climate.