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If the Chinese and maybe the Indians are not going to be abiding by U.S. pressure, then I don't think there will be a major impact on oil prices.

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Koichiro Tanaka, director of the JIME Center at the Institute of Energy Economics Japan in Tokyo, referring to the U.S. campaign to sanction Iran over its nuclear program, pledging to buy less Iranian oil. (AP)

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half-truth.

0 ( +0 / -0 )

I think this is misguided. US, EU and other regional changes in oil practices will impact price. Even a little worry will impact price. So it seems quite unrealistic to think that this current situation will not have some impact upon pricing.

We don't expect China to support anything other than their own policies. And India have other considerations including their proximity to a potential war. Their positions are rather obvious.

-1 ( +0 / -1 )

An unfortunate unintended consequence of the Iranian oil embargo is that those who continue to purchase oil from Iran will get cut-rate prices.

Still, this embargo is important for the good of the world, and so I hope other countries (besides the US) help persuade nations not to take advantage of the embargo to source cheap supplies of oil.

-1 ( +0 / -1 )

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