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
Brent crude rose, briefly hitting an eight-month high above $121 a barrel, as Iran halted exports to British and French companies ahead of a European Union embargo. ||| Brent crude rose on Monday, briefly hitting an eight-month high... Read Post
With oil prices on a very bumpy ride over the last few weeks, countries like Russia and Nigeria that depend on oil exports are hurting. RBC Capital Markets just circulated a research note discussing how the recent drop in oil prices... Read Post