World News Trust World News Trust
World News Trust World News Trust
  • News Portal
  • All Content
    • Edited
      • News
      • Commentary
      • Analysis
      • Advisories
      • Source
    • Flatwire
  • Topics
    • Agriculture
    • Culture
      • Arts
      • Children
      • Education
      • Entertainment
      • Food and Hunger
      • Sports
    • Disasters
    • Economy
    • Energy
    • Environment
    • Government
    • Health
    • Media
    • Science
    • Spiritual
    • Technology
    • Transportation
    • War
  • Regions
    • Africa
    • Americas
      • North America
      • South America
    • Antarctica
    • Arctic
    • Asia
    • Australia/Oceania
    • Europe
    • Middle East
    • Oceans
      • Arctic Ocean
      • Atlantic Ocean
      • Indian Ocean
      • Pacific Ocean
      • Southern Ocean
    • Space
  • World Desk
    • Submit Content
  • About Us
  • Sign In/Out
  • Register
  • Site Map
  • Contact Us
  • Russia's War and the Global Economy | Nouriel Roubini
  • U.S. Considers Radical Rethinking Of Dollar For Today's Digital World | David Gura
  • Why is Israel Amending Its Open-Fire Policy?: Three Possible Answers | Ramzy Baroud
  • WATCH: Republican National Committee Abandons America
  • ‘Previously Unknown Massacres’: Why is Israel Allowed to Own Palestinian History? | Ramzy Baroud
  • The Revolt of the Imagination, Part One: Notes on Belbury Syndrome | John Michael Greer
  • Human gut bacteria have sex to share vitamin B12 | University of California - Riverside

Crude Oil Rises to a 3-Month High on Increased Iranian Tension (Mark Shenk)

More items by author
Categories
Edited | News -- WNT Selected
Tool Bar
View Comments

  Crude oil jumped almost $1 a barrel in New York to the highest price this year after Iran took British naval personnel captive and the UN imposed sanctions on the country.

  By Mark Shenk

  March 26 (Bloomberg) -- Crude oil jumped almost $1 a barrel in New York to the highest price this year after Iran took British naval personnel captive and the UN imposed sanctions on the country.

  The U.K. government said it was ``utterly confident'' that 15 members of its military were in Iraqi waters when they were seized by Iranian forces on March 23. The United Nations Security Council approved new sanctions on March 24 over Iran's atomic program, voting unanimously to freeze the assets of a state-owned Iranian bank and impose penalties on some military commanders.

  ``The Iranians are still holding the British forces, which a lot of us thought would be resolved by now,'' said Tom Bentz, an oil broker with BNP Paribas Inc. in New York. ``The sanctions against Iran have been strengthened as well, which is a reminder of the tensions in the region. It looks like the standoff will be going on for a long time.''

  Crude oil for May delivery rose 63 cents, or 1 percent, to $62.91 a barrel at 12:02 p.m. on the New York Mercantile Exchange. Futures touched $63.30, the highest for a front-month contract since Dec. 21. The May futures contract reached $63.75 on March 8. Prices are down 2.2 percent from a year ago.

more

READ MORE: Bloomberg  

back to top
  • Created
    Monday, March 26 2007
  • Last modified
    Wednesday, November 06 2013
  1. You are here:  
  2. Home
  3. All Content
  4. Edited
  5. Crude Oil Rises to a 3-Month High on Increased Iranian Tension (Mark Shenk)
Copyright © 2022 World News Trust. All Rights Reserved.
Joomla! is Free Software released under the GNU General Public License.