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Iran threat to supplies triggers a steep rise in oil price
 OIL prices jumped again yesterday after a threat by Iran to disrupt crude supplies to the West triggered a renewed bout of nervousness in energy markets. The sabre-rattling comments by Ayatollah Ali Khamenei, Irans Supreme Leader, at a rally in Tehran on Sunday, helped to drive US light crude prices up by a further 77 cents in afternoon trading in London, on the back of steep gains of $1.99 on Friday. Yesterdays continued price rises pushed the cost of a barrel of US light crude back above $73 a barrel, while benchmark London Brent added a further 98 cents to $72.01 a barrel. Ayatollah Khameneis remarks dealt a blow to hopes for a compromise between Iran and the West over its nuclear programme, coming just days before todays presentation of Western negotiating proposals to Tehran by Javier Solana, the European Unions foreign policy chief. If you make any mistake, definitely shipment of energy from this region will be jeopardised. You have to know this, the ayatollah said. Posted by: Fred 2006-06-06 |
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