Wednesday, June 06, 2007

Information out of Oman is somewhat sketchy this AM and changing hourly, here is position of Cyclone best I can see...now tracking strait for the Straits of Hormuz, but forecasted to turn north sometime today into Iran:




Widespread power outages, damage to the eastern coast south of Muscat. Oil and gas facilities down for the second day.

http://www.gulfnews.com/region/Oman/10130416.html

From CNN this AM: "you cannot move tankers in 26 foot waves and that this will once again effect gas and oil prices"...

Oil is up sharply in Europe, less so here in the U.S.

In the final analysis what happens to Oman is only part of the picture, what happens in the Persian Gulf and the passages of the Straits of Hormuz is more important since 40% of the worlds oil comes from this region...delays in getting oil out of the Persian Gulf, thru the Straits and into the Indian Ocean is the real deal!!!!!