Fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz. The European Union has announced plans to join U.S. efforts to slow the flow of oil from Iran, the world's third largest exporter.
In an effort to bring Iran to the negotiating table over its nuclear program through economic pain, both the U.S. and the European Union have imposed sanctions that should make it harder for Iran to sell its oil. But the global oil business is unpredictable, and sanctions are no guarantee.
Newt Gingrich celebrated his win in the South Carolina primary with a fundraising blitz — a two-day push to raise as much money as possible. The campaign says it brought in $2 million. That money will come in handy in Florida. But the need for quick fundraising shows the precarious state of the Gingrich campaign's finances.