Energy analysts say the price of oil would start to soar and could rise 50 percent or more within days, according to New York Times. In a development that has edged the world closer to full-scale war in the Persian Gulf, European powers stated Wednesday that a tentative ban would be placed on exports to Iran. The European announcement comes on the heels of three very publicised long-range missile tests conducted by the Iranians earlier in the week.
It marks an escalation of sanctions against
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