Oil Rises on Iran Nuclear Concerns
BonTradeNotwithstanding overhangs in Greece and Italy, crude oil prices climbed higher in European session with the benchmark crude contract rising to as high as 96.6 and the equivalent Brent crude contract advancing to 116.06. The White House said that the IAEA will issue a report showing Iran is going towards developing nuclear weapons. This has intensified geopolitical tensions between the Middle East country and the West. Potential sanction from the UN will definitely hurt oil supply to the world. Gold remained firm at around 1790 as renewed demand for safe-haven asset drove capital to the yellow metal.
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Oil Rises on Iran Nuclear Concerns
