Oil surges after Iran uranium warning

[alp227]

Oil prices surged on Friday as a UN watchdog said Iran had significantly increased its production of higher-grade uranium over the last six months, a move certain to increase tensions between Tehran and the west.

Amid growing fears that Iran’s nuclear programme could prompt a military attack by Israel later this year, the International Atomic Energy Agency produced a detailed report into the state of Tehran’s nuclear programme which suggested it has ramped up the production of uranium close to weapons grade.

Oil prices rallied sharply following the IAEA announcement, with Brent crude, the global benchmark, hitting a fresh nine-month high of almost $125 a barrel. Prices have risen 14 per cent in the past month amid rising tensions with Iran and supply disruptions in other, smaller producers such as Sudan, Syria and Yemen.

While oil prices remain below their 2008 record in dollar terms, when measured in euros and sterling the price of oil marked fresh records this week, raising concerns of an oil shock for already fragile European economies.

full: http://liveweb.archive.org/http://www.ft.com/cms/s/0/f75485ba-5f09-11e1-9df6-00144feabdc0.html

[msongs]

1. Our enemies, the oil speculators and their wall street/political buddies nt

[RKP5637]

2. Exactly! Oil and Gas IMO should be a nationalized resource and none leaves the US shores, and

prices are regulated to be the same across the US, every location. And oil speculation is outlawed. Enough of this bullshit speculation.

[Hutzpa]

3. So it is safe to see that the

speculators are working in tandem with Iran.... hmmm.

Who hates America more??