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.
Iran Threatens Oil Blockade Over Sanctions
Iran threatened to cut off oil exports through the Strait of Hormuz if the U.S. follows through on its threat to impose economic sanctions. Oil markets dismissed the rhetoric.