Dubai-Further saber-rattling by Iran over pos- sible EU sanctions on imports of Iranian oil drove crude prices sharply higher January 3 as the Persian Gulf oil producer warned Western powers of dire consequences from any military threat to its interests or embargo of its oil. "The global oil market will face ten- sion if Iran's oil is sanctioned. This move is not rational," Iranian oil minister Rostam Ghasemi said January 3, quoted by oil minis- try news agency Shana.
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