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According Kyodo Wire, Japan is planning on reducing imports of oil from Iran.

This is in part at the urging of US Treasury Secretary Tim Geithner who is in Japan right now.

As ForexLive points out, this is all bullish for oil, as Tim Geithner is winning over countries, looking to turn the screws to Iran. That of course raises tensions for Iran, backs them into a corner and so on.

Therefore that has to be bullish for oil. Keep your eye on crude tonight and tomorrow.

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