Brent rises above $111, Iran supply worries support
2/1/2012 12:11:04 PM
SINGAPORE: Brent crude rose above $111 a barrel on Wednesday, gaining for a second straight session on fears that tensions between Iran and the West may escalate with U.S. lawmakers mulling more sanctions on Tehran, while promising China data also supported sentiment.
Leading U.S. lawmakers are considering adding measures to a new package of sanctions that would single out Iran's national oil and shipping companies and restrict its ability to tap into electronic banking services.
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