News

The price of Iran's crude oil has
soared to over $100 amid recent revolutions and uprisings in North
Africa and the Middle East.

In the wake of the revolutions in
Egypt and Libya, as well as the uprisings in Bahrain, Yemen, and other
Arab states, the price of Iran's crude oil has topped $103, Mehr News
Agency reported.

The Middle East and North Africa hold more than one-third of the world's oil.

Iran
holds around 10 percent of global oil reserves. In 2009, Iran's revenue
from oil exports reached $69.1 billion, as it produced approximately
3.8 million barrels per day.

Revolutions in North African countries of Egypt and Tunisia have led to the ouster of their despotic rulers earlier this year.

A pro-democracy uprising has now engulfed Libya since Feb 15.

Also in Yemen, mass pro-democracy protest rallies has left scores dead
and injured, threatening the rule of its US-baked President Ali
Abdullah Saleh.

In Bahrain as well, at least seven people have
been killed in 11 consecutive days of popular protests calling for the
ouster of the Al-Khalifa dynasty, which has ruled the country for over
200 years.