Does Iran want even higher oilprices?
*The Wall Street Journal, by Associated Press, April 21, 2006:
Oil Prices Hit New Intraday Record
"Oil prices hit a fresh record intraday high of $72.49 Thursday after
weekly data showed a drop in U.S. gasoline stocks, raising worries that
refiners don't have an adequate inventory cushion ahead of the peak
summer driving season.
Traders also are anxious that U.S.-led efforts to stop Iran, the
second-largest member of the Organization of Petroleum Exporting
Countries, from pursuing a suspected nuclear-weapons program could lead
to a disruption in Persian Gulf oil supplies.
Light, sweet crude for May delivery surpassed the previous intraday
record of $72.40, set Wednesday, in electronic trading on the New York
Mercantile Exchange. The price then slipped back to $72.30 a barrel, up
13 cents from Wednesday's record close of $72.17."
"Concerns about Iran continue to lift oil prices. Diplomats said
Wednesday that the U.S. may turn to the U.N. nuclear watchdog agency to
exert more pressure on Iran out of frustration with Russian and Chinese
opposition to firm Security Council action.
On Wednesday, Iranian President Mahmoud Ahmadinejad said that record
crude oil prices were still below their "real value," though he stopped
short of saying Iran would use its vast resource as a weapon."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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