The international crude price slips 1.7 percent to below $70 per barrel owing to the death of the dreaded al-Qaida leader Abu Musab al-Zarqawi in Iraq. The crude supply from Iraq had been restrained due to the frequent attacks and instability, but the...
Archive - June 2006
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International crude oil prices rose to touch the highest price in recent times as Iran threatened to disrupt oil supply flowing through Persian gulf that supply as much as 20 percent of the world's oil. Iran's supreme leader Ayatollah Ali Khamenei...
Venezuelan President Hugo Chavez urged OPEC countries to stop trading in dollars in order to end the dictatorship of this currency. However, Iran is already selling oil in euros in place of dollars. Obviously selling oil in euros would definitely...
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