Mama Knows News: G8, raising pressure on Iran, puts oil stocks on standby

Saturday, May 19, 2012

G8, raising pressure on Iran, puts oil stocks on standby

CAMP DAVID, Maryland (Reuters) - Leaders of the Group of Eight major economies raised the pressure on Iran on Saturday, signaling their readiness to tap into emergency oil stockpiles quickly this summer if tougher new sanctions on Tehran threaten to strain supplies. In unusually blunt language, the G8 put the International Energy Agency -- the West's energy adviser responsible for coordinating reserves -- on standby for action. It was the clearest sign yet that U.S. President Barack Obama is winning support for tapping government-held oil stocks for the second time in two years. ...

G8, raising pressure on Iran, puts oil stocks on standby
Sat, 19 May 2012 20:17:54 GMT

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Saturday, May 19, 2012

G8, raising pressure on Iran, puts oil stocks on standby

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