Delay In Crude Oil Export From Iran Leads To Increased Global Price
The oil prices have drastically increased because of delay in return of Iranian crude oil to the global markets. However, the reason behind the hike in oil prices is due to the import bans on Russia. On March 6, talks for reviving Iran's 2015 nuclear deal with the world powers, which also included Russia, is now expecting a guarantee from the US that the trade won't be affected.