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2012 Feb 20

Increased price on North Sea oil

North Sea oil of Brent quality was Monday morning sold for USD 121.20 per barrel on Asian markets, up USD 1.52. The reason is the tense situation in and around Iran, experts say.

This is the highest price for crude in nine months, NRK reports.

On Sunday, Iran announced that it was stopping all export of oil to France and Great Britain.

This follows an earlier EU announcement that it would halt all import of oil from Iran effective July 1st.

Source: norwaypost.no

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