Hurts me more than it does who?

Say what you will about those ayatollahs, you can't deny they have a sense of humor. To punish the European Union for imposing an embargo on Iranian oil, effective July 1, Iran's oil ministry has announced that it has stopped selling oil to Britain and France right away, with hints that Spain, Italy, and Greece could follow. Crude oil prices went up to $103 a barrel in US markets yesterday, "up 12 percent in the last 6 weeks and up 21 percent from a year ago" according to the Fairfax News (they had the most vivid numbers). That way the Europeans will get an early chance to find out if they really like the sanctions or not so much.

Peak Oil. From Howe Street.