Asian oil prices rise on calls for more Iran sanctions

Crude prices rose in Asia today after the United States, Britain, France and Germany moved to apply more restrictions and sanctions on Iran over its controversial nuclear programme, analysts said. New York’s main contract, light sweet crude for delivery in November rose 31 cents to USD 92.24 a barrel and Brent North Sea crude for […]

Spain’s Repsol has replaced most Iran crude with Saudi

Spain’s biggest oil refiner Repsol stopped importing crude fromIran in January, and has replaced most of that supply with oil from Saudi Arabia, a spokesman confirmed on Tuesday. “No crude out of Iran for us since January,” he said shortly after Iran’s energy minister said the increasingly isolated OPEC member had stopped shipping oil to Spain.