The oil markets and Iran in 2012

According to the Wall Street Journal's Market Watch, "between the implications of the most recent Organization of Petroleum Exporting Countries’ (OPEC) conference on Dec. 14 and the International Atomic Energy Agency’s (IAEA) concern regarding Iran’s nuclear program, January is poised to open the New Year (at least in the energy markets) with a bang." As tensions build up in the Persian Gulf about possible oil embargo on Iran, we are heading toward a very uncertain future with Iran. According to this commentary, "the coming year may resemble developments of 2003."

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