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Asia Top News and Analysis Iran


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    Stephen Schork, editor of The Schork Report, told CNBC’s “Morning Call” that he expects gasoline prices to decline by summer to a nationwide average of about $2.70 a gallon. He said gasoline supplies always decline at this time of year as refiners build their supply of crude oil to prepare for the summer driving season. The drop in gasoline supplies creates a temporary spike in prices.

  • Iran's Oil Minister Dovish on Production Thursday, 15 Mar 2007 | 10:14 AM ET
    Kazem Vaziri-Hamaneh

    CNBC’s Steve Sedgwick reports from Vienna that Iran’s oil minister took a “dovish” stance on production, as a confrontation between the United States and Iran over Tehran’s effort to develop nuclear weapons could create a “supply-side shock” in world oil markets.

  • Tougher Iran Sanctions on Agenda of London Meeting Monday, 26 Feb 2007 | 4:52 AM ET

    The permanent members of the UN Security Council, along with Germany, meet today in London to discuss tougher sanctions on Iran.

  • Analysts: There's Danger In Bush Oil Reserve Plan Wednesday, 24 Jan 2007 | 3:41 PM ET

    A rumor of war -- or something more "insidious." Last night, President George W. Bush offered America his formula for energy security, which included doubling the Strategic Petroleum Reserve (SPR) to 1.5 billion barrels of oil by 2027. While some found mediocrity in aspects of the president's plan, two observers see harbingers of danger.

  • UPDATE: False Rumor Sparks Bond Sell-Off Thursday, 18 Jan 2007 | 11:39 AM ET

    Where there's international tension and headlines, there's sometimes fire...and sometimes not. Traders were quick to jump on rumors of an Iranian naval engagement just before 9 a.m. ET today. The rumor carried some pretty graphic details about a U.S. Navy ship being hit by an Iranian anti-ship missile in the Persian Gulf.