29 Jan '12, 8am

Price of oil will hit US$150 per barrel: Iran

Price of oil will hit US$150 per barrel: Iran

Iran's official news agency reports that the head of the state oil company is claiming that the price of crude will go up to US$150 (S$188) per barrel. -- PHOTO: AP TEHRAN, Iran (AP) - Iran's official news agency reports that the head of the state oil company is claiming that the price of crude will go up to US$150 (S$188) per barrel. Head of the National Iranian Oil Company Ahmad Qalehban did not give a time frame for the prediction, nor any other details in the Sunday report by IRNA. The price of benchmark United States (US) crude on Friday was around US$99.56 per barrel. Mr Qalehban's statement comes as Iranian officials prepare to debate a ban on crude sales to European Union countries, in response to a planned EU embargo on Iran's oil by summer because of that country's nuclear programme. Please enable JavaScript to view the comments powered by Disqus. blog comments p...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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