NEW YORK — Oil prices climbed near $100 per barrel as Iran again threatened to block shipments of crude from the Persian Gulf. The latest threat follows a widely expected decision by the European Union to embargo imports of Iranian oil.
Monday also featured a sharp turnaround in natural gas prices. Futures rose more than 7 percent after one of America’s biggest natural gas producers said it would cut production this year.
Monday, January 23, 2012
Oil prices rise as Iran renews threats to close strategic waterway after EU sets embargo - The Washington Post
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