Oil Price | Tsvetana Paraskova: Should China decide to defy the latest U.S. tariff threat by ramping up imports of Iranian crude oil in open defiance to the U.S. sanctions on Iran, oil prices could take a significant hit and plunge by as much as $20-$30 a barrel, according to Bank of America Merrill Lynch cited by CNBC. Early on Monday, WTI Crude ...

[caption id="attachment_28161" align="alignright" width="253"] A Chinese oil tanker[/caption] Chinaimported arecord volumeof Iranian oil last month as its condensate demand increased and as the Persian Gulf nation sought to boost crude exports. China, the worlds second-largest oil consumer, bought 3.29 million metric tons ofIranian suppliesin April,...

SUMMARY:The Rouhani Government begins its engagement of the West at the United Nations on Monday, with a morning meeting between Foreign Minister Mohammad Javad Zarif and the European Unions foreign policy chief Catherine Ashton. Ashton, the lead negotiator for the 5+1 Powers (US, Britain, France, Russia, China, Germany), will discuss a resumption ...