Oil prices top $100 as U.S. Navy blockades Iran's ports after peace talks fail

The market is viewing this as an escalation and would impact Iran's exports which have continued to flow freely at about 1.5% million barrels per day. Over the weekend, an Iranian tanker bringing 2 million barrels of crude to India for the first time in 7 years. That's according to Tanker Tracker.Now, OPEC releasing its monthly report this morning showing a record 7.88% million barrels per day drop in production last month, led by Iraq, Saudi Arabia, the UAE, and Kuwait. A Ramco's east west pipeline that en ...