The White House today said it's determined there's enough supply of petroleum from countries other than Iran to move forward with further sanctions against the regime.
The administration said it made the determination despite a February analysis that indicated that the oil market became "increasingly tight over the first two months of 2012" and that "international concerns over Iran’s nuclear activities...are contributing to an increased demand for non-Iranian crude oil.
"Nonetheless," Press Secretary Jay Carney said in a statement, "there currently appears to be sufficient supply of non-Iranian oil to permit foreign countries to significantly reduce their import of Iranian oil."
The determination comes as consumers increasingly grapple with rising gas prices -- in part caused by turbulence in the Middle East. But the U.S. is looking to tighten the screws on Iran in hopes of forcing the regime to start negogiating on its nuclear weapons ambitions.