Will the Iran nuclear crisis inflate oil prices and prove negative for equities?
*Financial Times, by Robert Orr, January 17, 2006
Wall Street spooked by oil price concerns
“Wall Street stocks were dragged lower on Tuesday as the oil price jumped to its highest level since early October.
Jitters about earnings quality were magnified as unrest in Nigeria and continued tension with Iran sent the price of crude oil above $65 a barrel in New York, its highest level for three-and-a-half months.
“Iran has made threats to withhold supplies from the world market if there was international interference in their nuclear programs, [which is] not good,” analysts at Briefing.com said in a note.”
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