An Iranian Foreign Ministry spokesman recently stated that if Western countries consider further curbing Iranian crude oil export capacity, international crude oil prices may more than double. Foreign Ministry Spokesman Lamin Mehman-Palest said: "After this (sanctioned) issue is seriously raised, oil prices may rise to more than $250 a barrel."
West Texas Intermediate crude oil prices closed at $100.96 a barrel on the 2nd, while the North Sea Brent crude oil price closed at $109.94 a barrel on the same day.
The U.S. Senate passed a sanctions measure on the 1st of this month, saying that it will penalize foreign financial institutions that have trade relations with the Central Bank of Iran. On the same day, the European Union added more Iranian companies and individuals to the “black list†of sanctions and considered bans on importing oil from Iran.
According to Alsalan Fatehpur, head of the Iranian parliament’s economic committee, the United States and some European countries are seeking to include sanctions against Iran’s oil and gas industry on the agenda. “But even mentioning this matter will stimulate international The crude oil market pushes up oil prices."
West Texas Intermediate crude oil prices closed at $100.96 a barrel on the 2nd, while the North Sea Brent crude oil price closed at $109.94 a barrel on the same day.
The U.S. Senate passed a sanctions measure on the 1st of this month, saying that it will penalize foreign financial institutions that have trade relations with the Central Bank of Iran. On the same day, the European Union added more Iranian companies and individuals to the “black list†of sanctions and considered bans on importing oil from Iran.
According to Alsalan Fatehpur, head of the Iranian parliament’s economic committee, the United States and some European countries are seeking to include sanctions against Iran’s oil and gas industry on the agenda. “But even mentioning this matter will stimulate international The crude oil market pushes up oil prices."
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