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oil embargo News

Iran drafts bill to close Strait of Hormuz

Tehran - Iran is planning to close the Strait of Hormuz to oil tankers traveling to countries supporting economic sanctions against the Islamic Republic.

Op-Ed: Nuclear Escalation looms in Middle East

As nuclear tensions build in the Middle East the world holds it's breath in hopes of a peaceful resolution between Iran, Saudi Arabia, and Israel. Iran, as a weapon of retaliation, denies oil to six European countries.

Iran oil embargo will lead to untold ‘consequences’ with Saudis

Riyadh - Unrest in the Middle East continues leading the international agenda, and sanctions against Iran have moved Saudi Arabia to announce an increase of oil production by 2.5 million barrels per day, action which Iran states may have untold "consequences."
 

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Barrels of oil.
Barrels of oil.
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