Increases in Oil Prices Caused by Iranian Move to Halt Several Oil Exports in Europe

Higher oil prices are coming now that Iran announced that it will stop several of its oil exports bound for Europe as a response to the organized embargo beginning July of this year. In New York, Benchmark U.S. crude prices grew by $1.08 to reach $101.82 a barrel. In London, Brent crude prices increased by $1.53 cents to finish at $118.88 a barrel. The implication of Iran’s decision to...
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