02.02.2012 - Could the world handle an Iranian oil crisis?

Lately, oil markets have been jittery over fears that Europe’s new embargo on Iran could spark tensions in the Persian Gulf. So how would the world cope with an Iranian oil crisis, if it came to that? A new paper explores our options — and none of them are pleasant. In theory, the E.U.’s embargo on Iranian oil imports, set for July, is supposed to cut into Iran’s finances without cranking up the price of crude too high...............................................Full Article: Source

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