Oil hit a 9-month high yesterday thanks to Iran halting exports to Europe in advance of a ban on Persian oil. Pundits have in recent days been crowing that the resulting higher gas prices, which could go above $4 a gallon within the next few weeks if tensions in Iran continue, could hurt the presidents’ election prospects. Republicans like John Boehner are urging conservative politicians to embrace “pump anger.
A law to be debated in Iran's parliament could halt exports of oil to the European Union as early as next week. ||| A law to be debated in Iran's parliament on Sunday could halt exports of oil to the European Union as early as next ... Read Post
Some Persian Gulf watchers say more political uprisings, swelling strife throughout the Middle East,mean likely oil supply disruptions, higher crude prices and a bigger bite at the gas pump, perhaps as much as $7 a gallon. Read Post