Iran

Many were concerned that sanctions against Iran put in place earlier this month were going to push oil prices higher.  In response, OPEC decided to increase oil production to help compensate.  Those sanctions against Iran didn’t squeeze oil supply, and with OPEC’s action, we now have a glut of oil on the world market.  That elevated level...

During much of the late summer and early fall, economists were worried what would happen to oil prices, and oil supply after the United States returned sanctions on Iran, starting early this month.  Now that those sanctions have been in place, we can see what impacted they had on what we are paying.  ...

Government leaders in Iran say the nation is now self-sufficient in regards to its wheat supply.  And the nation aims to export wheat in the coming months.   Iran has been a major wheat importer in recent years as the country sought to guarantee local food supplies, although its needs have varied partly due to erratic domestic production, according to Reuters.  However...