24.10.2012 - Iran’s warning to oil market fails to send prices higher
Iran threatened on Tuesday to halt all its oil exports if the West’s antinuclear sanctions on the country are strengthened, apparently in the hope that such a warning would spook the international petroleum market by raising prices and reminding the world of Iran’s potential to wreak havoc with the global economy. But the threat, made by Rostam Qasemi, Iran’s oil minister, at the World Energy Forum, a conference in Dubai, United Arab Emirates, appeared to have no impact. In a possible reflection of how steeply Iran’s influence in the market has eroded, oil prices fell to a three-month low...............................................Full Article: Source
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