Oil rallies amid Iranian oil embargo

Note: This section contains information in English only.
Source: Forexfactory
Crude oil soared to USD110.80 on Monday after the EU approved embargo on Iranian oil. Iran continues to repeat threats of blocking the Strait of Hormuz in case of any disruptions to sale of the country's oil products. However, Britain and American warships sailed freely through Strait of Hormuz on Sunday. EU ministers consider the attempt to close the channel is likely to be unsuccessful.


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Tue, 24 Jan 2012 08:34:45 GMT

Central bank of India cuts growth forecast

Indian central bank cut outlook for the expansion of the country's economy. The RBI said the growth for 2011 and 2012 is likely to be more moderate than expected. Bank blamed the high inflation rate that hit 7.47% last month, the lowest level in the last two year but still above the bank's target. The RBI also added that spillover

Tue, 24 Jan 2012 08:00:21 GMT

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