Iran says oil would go over $250 if exports banned

TEHRAN - Iran's Foreign Ministry believes that if the West seriously considers blocking Tehran's ability to export oil, the global price of crude would more than double, Foreign Ministry spokesman Ramin Mehmanparast was quoted as saying on Sunday.
"As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel," he told the reformist daily Sharq.
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