Alarmed by talk of increased Western sanctions that could reduce or even halt its oil exports,...

|By:, SA News Editor

Alarmed by talk of increased Western sanctions that could reduce or even halt its oil exports, Iran warns crude oil prices could surge to at least $250/barrel. The warning is part of Iran’s attempt to intimidate its adversaries, and it could be working: European fears grow that new sanctions would hurt themselves more than they would hurt Iran. Crude prices finished with only slight gains.