Iran May Ban Oil Exports to Europe Next Week
An Iranian official said that his country would debate a law in its parliament on Sunday that could cut off oil shipments to Europe as early as next week. If that happens China and Russia just might be the big winners.
Oil Price Up on Iran Threat, Nigerian Strikes
The price of oil climbed Monday from a four-week low over worries that ongoing Nigerian strikes over a cut in gasoline price subsidies and Iranian threats to close the Strait of Hormuz would threaten supplies.