US urges South Korea to cut Iranian oil imports (AP)

SEOUL, South Korea (AP) -- A senior U.S. official urged South Korea on Tuesday to reduce its crude oil imports from Iran, ratcheting up pressure on Washington's close ally to help confront Tehran over its nuclear program....

Greek suppliers concerned about the potential default of Greece have shut off financing for oil. In turn this has caused Greece to turn to Iran. However, the EU is now threatening to impose more sanctions on Iran over nuclear issues. If the EU acts tat stupidly, the Greek economy will shut down.Please consider Greece turns to Iranian oil as default fears deter tradeNov 11, 2011

TEHRAN, Iran (AP) — Iran's oil ministry spokesman says all crude oil and gas exports have been banned to the 27-nation European Union, which has already imposed its own boycott on Iranian energy imports as part of sanctions over Tehran's nuclear program.

TEHRAN, Iran (AP) -- Iran's oil ministry spokesman says all crude oil and gas exports have been banned to the 27-nation European Union, which has already imposed its own boycott on Iranian energy imports as part of sanctions over Tehran's nuclear program....

BEIJING/TOKYO (Reuters) - Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its drastically reduced shipments. European Union sanctions against Tehran have stopped European insurers, who dominate the marine insurance sector, from offering cover on Iranian crude. Industry watchers say the measure has proved to be the hardest hitting in the West's arsenal of sanctions aiming to persuade Iran to abandon its nuclear program. ...

By Tony Daltorio:One of the reasons there is still a strong bid in the oil market is the concern over Iran's nuclear development program. Any attack by Israel or the United States to destroy nuclear facilities will surely result in a response from Tehran, which will likely involve shutting down the Strait of Hormuz through which flows much of the Middle East's oil (15.5 million barrels a day).

TOKYO/HONG KONG (Reuters) - Jap

SINGAPORE/SEOUL — South Korea’s Samsung Total Petrochemicals Co has revived a contract to buy Iranian oil after a year’s hiatus, as thin margins in plastics make the cheap fuel from Iran hard to resist, people familiar with the deal said on Friday. Stringent U.S. and European sanctions aimed at reducing Iran’s oil income and forcing Tehran to curb its nuclear programme have made shipping and paying for the oil hard, halving the Islamic Republic’s crude exports.