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Oil Prices Bounce Back on Iran Sanctions

Brian Hicks

Written By Brian Hicks

Posted November 26, 2013

Oil Prices Bounce Back on Iran Sanctions

Last weekend, Iran agreed to back off its nuclear enrichment activities in exchange for a reduction on international oil sanctions.

Iran has the fourth largest supply of oil reserves, and some feared a lightening of sanctions would cause the market to be flooded with Iranian oil. Oil prices suffered a brief drop as a sell-off took place on these fears.

However, as a part of the deal, Iran is not allowed to increase oil sales for the next six months, so previous fears have been allayed and prices have rebounded. Brent Crude rose to $111.04 and U.S. Crude (Clc 1) rose to $94.44.

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China wants to raise its collective IQ by an average of 15 points by the next generation, and it is willing to do this through selective breeding. It sounds unethical, weird, and dystopian, but the fact of the matter is, there’s lots of money to be made in next generation genetic sequencing. 

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