Oil prices are rising on Tuesday morning, supported by news Iran is considering blocking the Strait of Hormuz in the wake of an EU embargo on the former's oil imports that took effect this month.
The front month contract for Brent crude North Sea oil was last seen up USD 0.88 at USD 98.22/bbl, on Monday's close on the Ice exchange.
On Nymex, the WTI front month contract was last seen USD 0.73 higher at USD 84.48/bbl.
Oil is rising this morning with the main factor being the escalation of the Iranian oil embargo, analyst Victor Shum at Singapore&a
Dienstag, 3.07.2012, 08:25 Uhr
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