Oil Rose $1.47 After EU Decided to Ban Iranian Crude Imports

Reuters reported that oil prices inched up $1.47 to $99.80 a barrel after EU decided to ban Iranian crude imports from July 1, 2012.

As quoted in the market news:

U.S. March crude rose $1.47 to $99.80 a barrel, having reached $100.24 and pushed above the front-month 50-day moving average of $99.13.

Click here to read the full Reuters report.