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(Reuters) - The head of the world's top oil trader Vitol said on Tuesday the rise in oil prices to above $120 a barrel has more than compensated Iran for oil export revenues lost due to Western financial pressures.
The energy trading company said on Tuesday that the rise in crude prices to above USD 120 per barrel had more than compensated Tehran for the revenues lost due to lower crude exports.
Vitol's chief executive, Ian Taylor, said, “I reckon they are probably quite close to winning based on the numbers. That was what everybody in the industry always thought would be the likely result.”
He noted that the decline in the value of the euro versus the US dollar had also lifted the cost of dollar-denominated oil sales for the European Union countries.
Originally posted by satron
I really hope the sanctions will be lifted soon, so that gas prices can drop back down.
Originally posted by RizeorDie
Maybe the Zionists are not stupid, maybe they know something is bound to happen this year, maybe they need chaos and disorder throughout the world to achieve certain goals. And maybe they will blame all the misfortunes that they caused to the people of the world on Iran; which is clearly only defending itself and standing up to the Zionists.