Kowabunga! Oil rose to near $102 a barrel on Wednesday after Iran announced it would stop crude exports to six European countries and investors were heartened from positive developments in Europe’s sovereign debt crisis, the Associated Press reports.
By early afternoon in Europe, benchmark crude was up $1.11 to $101.85 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 17 cents to finish at $100.74 per barrel in New York on Tuesday. In London, Brent crude was up $1.76 at $119.11 per barrel on the ICE Futures exchange.
Iranian state TV said Wednesday that Tehran had cut oil exports to six European countries in response to sanctions from the European Union which include a boycott of new oil contracts with Iran. No further details were immediately available….
Read more at http://www.washingtonpost.com/business/markets/oil-prices-climb-as-investors-praise-greece-austerity-plan-natural-gas-jumps-5-percent/2012/02/14/gIQAmXOaDR_story.html
No comments:
Post a Comment