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Wednesday 15 February 2012

Iran denies reports on EU oil export cuts

Iran's Oil Ministry has refuted media reports on the country stopping its crude exports to six EU nations on Wednesday.

"We deny this report… If such a decision is made, it will be announced by Iran's Supreme National Security Council," a spokesman for the ministry told Reuters.

The European Commission has "absolutely no information" about the news and will check it, said the spokesman for Foreign Policy, Michael Mann.

The initial news from Tehran nonetheless sent Brent crude prices up nearly $2 a barrel to $119.28, hitting a six-month high.    Read Here

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