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"The principal of an (Iranian) oil embargo is agreed. It is not being debated anymore," says an...

"The principal of an (Iranian) oil embargo is agreed. It is not being debated anymore," says an EU diplomat. Traders expect Iran will find buyers for the roughly 18% of its crude that now goes to the EU - most likely in Asia - but will need to offer substantial discounts. Expectations of such a move have already hit the rial, which is off 40% vs. the dollar over the past month.
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Comments (7)
  • Wyatt Junker
    , contributor
    Comments (4501) | Send Message
     
    So Asia likes Hezbollah. Or they're just fencesitting & amoral. No surprise there. Like the guy who wants to sell you speakers out the back of his van in the alley. 'Hey, its a good deal. They're discounted!'
    4 Jan 2012, 12:39 PM Reply Like
  • Bill S. Friend
    , contributor
    Comments (717) | Send Message
     
    Those were great speakers!
    4 Jan 2012, 09:59 PM Reply Like
  • golongcheckdownmkt
    , contributor
    Comments (40) | Send Message
     
    If the Asian countries continue to support Iran we may have to do a partial default on the Treasuries they own....WW3???
    4 Jan 2012, 03:46 PM Reply Like
  • Jean-Francois Morf
    , contributor
    Comments (40) | Send Message
     
    The multi-billionaires ayatollas will not suffer at all...
    Russia and China will pay the market price...
    Ezekiel 38:
    in the End of time, Russia +China +Iran +Ethiopia +Libya, all pagans, will attack Israel, but God will destroy them with earthquakes +(atomic) fire, and all nations will know that Israel, brought back of the nations, and now repopulated, live in his homeland in full security, in the center of the world...
    4 Jan 2012, 03:50 PM Reply Like
  • Ricardo Espinosa
    , contributor
    Comments (459) | Send Message
     
    "God will destroy them with earthquakes and atomic fire", pass the joint, Jean, you´ve been smoking waaay too long.
    4 Jan 2012, 05:31 PM Reply Like
  • Elliott R. Morss
    , contributor
    Comments (624) | Send Message
     
    Wow. Interesting and wild comments!

     

    My view as an economist? Huff and puff.

     

    Political posturing of the worst sort: the global oil market is just that - global. So you refuse to buy from one source, they will sell it to others, and you will have to buy from someone else at ahigher price.

     

    Or am I missing something?
    4 Jan 2012, 08:59 PM Reply Like
  • Bill S. Friend
    , contributor
    Comments (717) | Send Message
     
    I love the pictures of the Iranian submarine painted John Deere Green.
    4 Jan 2012, 10:01 PM Reply Like
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