Arab Oil Embargo Lifted
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Arab Oil Embargo Lifted
Mar 13, 1974. The oil-producing Arab countries agreed to lift their five-month embargo on petroleum sales to the US. During the embargo prices went up 300 percent and a ban was imposed on Sunday gasoline sales. The embargo was in retaliation for US support of Israel during the October 1973 Middle East War.
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Chase's Calendar of Events
Chase's Calendar of Events 2011. Copyright © 2010 by McGraw-Hill Companies, Inc. All rights reserved.
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