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Old Sunday, May 13, 2012
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from Dawn Newspaper:-

"Iran-US standoff "
1.Israel and its western allies are once again planning for a military confrontation against Iran.

2.Confrontation and exchange of hard statements still continue between both countries. Iran several times has renewed its threat to close access to Strait of Hormuz and cutting 24 per cent of the world`s oil supply from its market.

3.The US Navy said Iran`s threat to block the strategically andeconomically important Strait of Hormuz is unacceptable. At the time when the world is facing the worst economic and financial crises and things are going from bad to worse in the euro zone and European leaders are trying hard to bail out affected countries, new governments in France and Greece find it hard to fulfil dreams of their people.

4.The conflict between Iran and Israel could push higher oil prices if the Strait of Hormuz is closed to oil tankers.

5.Oil prices are already touching above hundred dollars a barrel in the international market and due to increasing oil price the economies of poor countries have already suffered badly. In case of any new war in the region, the use of modern weapons, large numbers of air strikes and civilian deaths will add further anger against the US and Israel in the Muslim world.
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