Iranian crude oil exports have fallen by 300,000 barrels/day in March, Reuters reports, a drop...

|By:, SA News Editor

Iranian crude oil exports have fallen by 300,000 barrels/day in March, Reuters reports, a drop of 14% in Iran’s exports attributed to growing compliance to U.S.-led sanctions. Nymex crude spiked to $108.25, pulled back, and have steadily climbed back to $107, up 1.6%. Pres. Obama weighs in on the issue, saying Middle East tensions could add $20-$30 to oil prices.