probably it will!
Iran says oil would go over $250 if exports banned
Iran's Foreign Ministry believes that if the West seriously considered blocking Tehran's ability to export oil, the global price of crude would more than double, Foreign Ministry spokesman Ramin Mehmanparast was quoted as saying on Sunday. "As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel," he told the reformist daily Sharq. Talk in the West of tightening sanctions on Iran over its nuclear program has increased since the United Nations nuclear watchdog issued a report in November containing what it said was evidence that Tehran had worked on designing an atom bomb. Iran ... (full story)