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Climate Change Denial Front Group Heartland Institute Sends Emails to Bloggers Threatening Legal Action

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NJDhockeyfan2/20/2012 8:43:42 am PST

Oil hits 8-month high on Iran, China moves

LONDON, Feb 20 (Reuters) - Brent crude rose on Monday, briefly hitting an eight-month high above $121 a barrel, as Iran halted exports to British and French companies ahead of a European Union embargo.

Policy easing by China and hopes for a Greek bailout also buoyed prices.

Brent crude was up 47 cents at $120.10 a barrel by 1455 GMT, having hit a session high of $121.15 earlier. The level was the highest since mid-June last year.

In euro terms, Brent crude is nearing its record high hit in summer 2008, according to Reuters data.

Here it comes. The experts have been saying we could be paying $5.00/gal this summer. Yikes!