Azerbaijan, Baku / Trend corr. A.Badalova / The political conflict between the United States and Iran due to Teheran nuclear program may cause threat to the oil market, believes an analytic of the Oil and Gas Investment Antanta company Timur Khayrullin.
" Iran plays relevant role in oil market. Some 11% of the world oil reserve falls on Iran. Some 4mln bars of oil were produced in Iran per day. The oil market may be deprived of necessary oil volume in the case of intensification of the conflict between the United States and Iran," stated an analytic of the Trend .
The President of the United States G.W.Bush believes that the nuclear program of Teheran causes potential threat to world. However, Iran in its turn states to stop oil supplies through the Strait of Ormuz in the case of intensification of the conflict between Iran and the United States.
Military actions negatively affect on the state of oil market, believes the analytic. Iran may stop oil supply through the strait which connect the Persian Gulf with the Indian Ocean.
" Iran may block oil export from the Strait of Ormuz which provides oil supply to the biggest oil exports. Suchan action will negatively affect on market which will lead to change of oil cost," the analytic said.
The Strait of Ormuz is a strategically important region. The strait is the key transport route for 33% of transported oil via sea. According to the Reuters, the figure to make up 40% taking into consideration transport of all sea products through the Strait of Ormuz.