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Oil Caps Longest Rally in Two Years on Iranian Supply Concern

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Oil Caps Longest Rally in Two Years on Iranian Supply Concern

Bloomberg - Feb 25, 2012
Oil capped its longest rally since January 2010 as escalating tension with threatens supplies and on signs of a global economic recovery. Futures advanced above $109 a barrel for the first time in almost 10 months as sanctions against the Persian Gulf nation make it more difficult to sell oil. Iran dismissed UN atomic inspectors’ concerns that nuclear-weapon work is occurring, a document acquired by Bloomberg News showed. U.S., French and South Korean consumer confidence gained, reports showed yesterday. . “The tension between Iran and the ...

 

NYMEX-Crude up 7th day, best week since Dec, on Iran

Reuters - Feb 24, 2012
U.N. nuclear agency says Iran steps up nuclear work * Saudi raising oil exports in bid to tame high prices * Obama administration eyes tapping U.S. oil reserves NEW YORK, Feb. 24 - U.S. crude futures rose a seventh day on Friday, closing at a nine-month high and having the best week since December as the U.N. nuclear watchdog said Iran had stepped up uranium enrichment work was seen inflaming Tehran's tensions with the West. The seven-day rally was the longest streak of gains for U.S. crude since prices rose 10 straight days in late ...

 

Gasoline Rallies on Inventory Decline, Iran Uranium Production

Business Week - Feb 24, 2012
Feb. 24 (Bloomberg) -- Gasoline futures rose as stockpiles fell unexpectedly last week and as crude oil rallied following a report that Iran tripled its uranium production rate. Futures advanced after Iran dismissed United Nations atomic inspectors’ concerns over possible nuclear-weapon work and the Persian Gulf nation tripled its quarterly rate of producing 20 percent-enriched uranium. Inventories of gasoline declined 649,000 barrels to 231.5 million in the seven days ended Feb. 17, Energy Department data show. “The biggest price drivers ...

 

Oil Caps Longest Rally in Two Years on Iranian Supply Concern

Business Week - Feb 25, 2012
Feb. 24 (Bloomberg) -- Oil capped its longest rally since January 2010 as escalating tension with Iran threatens supplies and on signs of a global economic recovery. Futures advanced above $109 a barrel for the first time in almost 10 months as sanctions against the Persian Gulf nation make it more difficult to sell oil. Iran dismissed UN atomic inspectors’ concerns that nuclear-weapon work is occurring, a document acquired by Bloomberg News showed. U.S., French and South Korean consumer confidence gained, reports showed today. “Everyone is ...

 



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