Thursday, 27 September 2012

Crude Higher on Geopolitical Tension


Crude oil futures rose in London trading as ongoing geopolitical tensions in the Middle East provided support for prices.

Israel's deputy foreign minister Danny Ayalon said Thursday on public radio that international sanctions against Iran over its nuclear program haven't dissuaded Iran from pursuing nuclear ambitions. Israel has said it could launch strikes against nuclear facilities there, raising fears in the market about oil supply disruption from Iran.

A partial deal on contested border zones by Sudan and South Sudan is alleviating some supply worries in the market.

Source:Market Watch

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