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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