News Desk: Iran halted oil exports to France and Britain as the countries along with the United States remained hostile for its nuclear programme, which resulted hike in the fuel price in New York a nine-month high.


The crude oil rose to $105.44 a barrel in electronic trading on the New York Mercantile Exchange, the highest price since May 5 last year.


Iran in a statement said that crude will be supplied to new customers instead of companies in the UK and France. It threatened to cut oil exports to more European Nations if they remain "hostile".


Iran's oil ministry said that the exports to Spain, Greece, Italy, Portugal, Germany and Netherland would be stopped, if their hostile actions continue.


Teheran came up with new laws for the EU nations saying two-to five year contracts would be signed with no preconditions. Iran exports 20% crude, around 600,000 barrels per day to the EU nations including Italy, Spain and Greece.

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