In escalating war of words, US Defence Secretary Leon Panetta has warned Iran that 'all options' are on the table if Tehran blocks the Straits of Hormuz or if it goes nuclear.
Jim Nicholson, vice president-Asia at Argus Media tells CNBC-TV18 that he is concerned about the issues in Iran impacting crude prices. “The problem in Straits of Hormuz is a matter of worry for the crude market even as global supply concerns in Iran are prevalent,” he says.