New sanctions on Iran boost oil prices

Tehran Times

New sanctions on Iran boost oil prices

Tehran Times

New sanctions on Iran boost oil prices

New sanctions of United States on Iran, pushing the price of oil higher./ The Obama administration slapped Iran with more sanctions aimed at stifling its civilian nuclear program. Traders, who worry that the sanctions will eventually lead to a military conflict in the Persian Gulf, responded by buying oil./ "This just puts the risk back out there," said Phil Flynn, an oil analyst with Price Futures Group./ Iran can block a key shipping channel out of the Persian Gulf if the sanctions continue./ Such a move, or a conflict in the area, could ...

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July 13, 2012

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