Millionaire corner daily financial update february 20, 2012

Millionaire corner daily financial update february 20, 2012

Iran stops selling oil to France and Britain In retaliation against recent sanctions against it, Iran stopped exporting oil to France and Britain, according to Reuters. The sanctions recently enacted by the Europeans would have stopped the imports of Iranian oil in July, but Iran chose to stop selling to France and Britain early. The sanctions were imposed by Europe, the US and other countries to stop Iran’s development of nuclear weapons. The two countries indicate that the importation of Iranian oil will not impact them because they already have a 120 day supply of oil. Brent crude oil prices were up to $118 per barrel on Friday. Anticipate gas prices to continue to increase. Dow closes shy of 13000 The Dow closed just below 13000 on Friday at 12949 up 49 points from the day before. CNBC reports that European and Asian markets are mostly up on Monday. Brent Crude oil prices have jumped to over $120 per barrel. Greeks continue protests on eve of bailout decision On the eve of make or break talks in Brussels that will give the Greeks 130 billion euro, or $171 billion, to bail out their debt, thousands once again protested in Athens against the austerity measures required by the EU in order to advance the funds. Reuters reports that the current parties in control of Greece have ruled since about 1974, and polls report that few of them will be re-elected in the upcoming April elections. This makes the other European nations reluctant to forward the funds for they fear the ……