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The West has a losing hand in the stand-off with Iran. The US incites its European allies, entirely against their own interest, to impose an oil-embargo against Iran. That is: Europe no longer buys oil from that nation. That is not a very smart move, since there are more than enough potential buyers in the tight market, lining up for the scarce resource. And every barrel of oil a supplyer does not sell today, it will sell for a much higher price in the future.
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