Oil prices rose on Monday in Asia to near US$130 on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the oil-rich Gulf region.
Talks on Saturday ended with Iran stonewalling Washington and five other world powers on their call to freeze uranium enrichment.
In response, the six gave Iran two weeks to respond to their demand, setting the stage for a new round of U.N. sanctions.
The U.S. sent...
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