Oil Prices might Double!
Category: Middle East Created on Monday, 05 December 2011 04:53 Published Date Written by Stock Market Newspaper Hits: 86
Iran's Foreign Ministry spokesman Ramin Mehmanparast warned that, if the Western countries to take sanctions on Iran's oil exports, oil prices could pass $ 250 per barrel. Mehmanparast, gave a speech to Sharq newspaper and he said that "if Western countries take sanctions actions against Iran because of Iran's nuclear program, London Brent type crude oil prices can go up to more than double." he noted. Despite Iran insists its nuclear program is peaceful, Western countries rearrange their agenda after the International Atomic Energy Agency report that "Iran is experimenting to make nuclear weapons."
London Brent type crude oil price closed at 109.94 dollars per barrel on Friday.