Is there growing instability for world oil prices?
*Financial Times, by Gareth Smyth and Najmeh Bozorgmehr, March 26, 2007:
"Oil broke through $64 a barrel on Monday, setting a fresh 2007
record, on heightened geopolitical tensions between Iran and the west
as Tehran vowed to continue its atomic programme despite new UN
sanctions. Iran said on Sunday it would limit co-operation with the UN
in retaliation for new financial and arms sanctions adopted by the
Security Council which demanded that Iran cease its uranium enrichment
programme.
Tehran has also said it might charge the 15 British personnel it seized
on Friday with illegally entering its waters. Saturday’s UN resolution
bans arms exports by Iran and freezes the assets of more than two dozen
entities and individuals, including Iran’s Bank Sepah and commanders of
the Revolutionary Guards, the elite force that the UK says was
responsible for capturing the British personnel.
On Monday, Brent crude futures rose 93 cents to $64.11 a barrel on the
International Petroleum Exchange in London. US crude prices rose 72
cents to $63.00 a barrel."
*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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