their export capability. everyone loses if the straits of hormuz is closed. i think you can t rule it out but i think at this point i would say it s unlikely. what is the more likely scenario then and what do you think that will mean for the price of crude? i think increasingly you ll see a ratcheting up of sanctions. eu leaders will take a position on whether or not to basically put an embargo in place on the purchase of iranian crude. if that goes ahead, it didn t shut off iran s export but it basically reduces the number of buyers and increasinincreasingl be forced to sell into asia and africa. it will be a distressed seller. how much less? $20, $30 a barrel. it could be in some cases having to resort to barter trade. it certainly would increase the cost to iran, reduce the money they get from selling oil and it would have a massive financial implication to the country.
india, ford s allen moulally. caution has crept in before the week is out. european markets are marginally out, asian markets are marginally down. futures are flat. the predicted number of new jobs is around about 150,000. many say that is better but charles still not good enough. no. i think that s very much going to be what is dominating investor thought really all way around the globe. we are seeing this slight rebound here in europe. there was a bit of a sell-off, i think perhaps in anticipation of a strong nonfarm payroll. maybe as many as 90,000 jobs being created. that s the whisper number on wall street. as that number goes down to more than 150,000, which seems to be the consensus, there s less prospect of u.s. interest rates being moved up soon and perhaps there s pressure on the euro. there is a lot of worry out here behind all of this. we re still worrying about banks. .only credit rights issue a couple of days ago is still being talked about in the markets be