Persian Gulf conflict could send oil beyond $325

Tensions between Iran and the United States reached a record high after a US spy drone violated Iran's airspace last month and ignored Iran's warnings before being targeted by IRGC's air defense on June 20.

US created tensions in the Persian Gulf which many experts believe are intentionally provide weight to Tehran's threat that it will inflict a heavy toll on US allies in the region if attacked by American forces and will not allow these same countries to export their oil if it can't export its own.

The impact on oil markets of an Iranian closure of the Strait of Hormuz would be enormous. In this regards, analysts believe that one of these three scenarios is likely to occur.

Source: Mehr