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Oil Prices & Iran's Nuclear Program

Sunday, 20 Jul 2008 | 11:40 PM ET

U.S. Secretary of State Condoleezza Rice says Iran has stalled nuclear discussions and that Tehran will face more sanctions if it flouts a deadline to curb its atomic work. Jonathan Kornafel, Asia director of Hudson Capital Energy talks to CNBC's Maura Fogarty and Sri Jegarajah about how this will impact oil prices.