Oil price driven by sanctions on Iran

Price could go over $100pb

Bloomberg: The prospect of a rebound in prices driven by sanctions on Iran illustrates the readiness of the U.S., Europe and their allies to suffer higher fuel costs in order to curb the Islamic republic’s nuclear program. The EU, Iran’s biggest buyer after China, is due to stop importing the nation’s oil July 1. While reflecting an improvement in demand as major economies tackle the fallout from Europe’s sovereign debt crisis, rising prices may also pose headwinds to a recovery >>>


29-Jun-2012
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