via rferl.org
Thursday, January 5, 2012
UPDATE 4-Oil steady as dollar gains cap rise on Iran tension | Reuters
LONDON, Jan 5 (Reuters) - Oil was steady at around $113.80 a barrel on Thursday as geopolitical tensions kept a floor under prices, following a European Union agreement to stop importing Iranian crude, but a stronger dollar capped gains.
via reuters.com
New Sanctions Target Iran Oil Sales - WSJ.com
LONDON -- U.S. sanctions against Iran's central bank, if combined with an increasingly likely European oil embargo, are likely to significantly dent Tehran's oil revenue.
But though experts say the sanctions' impact probably will sink in only gradually, they already have started to drive Iran's currency down.
"We could see anywhere between a 5% and 30% decrease in Iranian oil revenue this year, depending on whether the EU enacts an embargo and how aggressively U.S. sanctions are applied," said Trevor Houser, a partner at New York-based economic-research company Rhodium Group.
via online.wsj.com
