The recent standoff over Tehran's NUCLEAR ACTIVITIES between Iran, the second-biggest producer in the 11-member OPEC, and the world's fourth-largest exporter on one hand and the West on the other hand could result in oil prices reaching unprecedented highs the coming few weeks, an editorial published on MPH magazine stated yesterday.
What the U.S. and its European allies shouldn’t ignore is Iran's strategic importance to the United States and the West in general and its role in the global energy equation.
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