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News & Current Events Discuss Oil rises to near $107 in Asia as traders eye simmering tension over Iran nuclear pro at the General Forum; Oil rises to near $107 in Asia as traders eye simmering tension over Iran nuclear program - The Washington Post ...

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Old 03-05-2012, 02:10 AM
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Default Oil rises to near $107 in Asia as traders eye simmering tension over Iran nuclear pro

Oil rises to near $107 in Asia as traders eye simmering tension over Iran nuclear program - The Washington Post

Quote:
Oil prices rose slightly to near $107 a barrel Monday in Asia...

Benchmark oil for April delivery was up 29 cents to $106.99 in electronic trading on the New York Mercantile ...

Crude jumped to $110.55, the highest since May, late Thursday after an unconfirmed Iranian media report of a pipeline explosion in Saudi Arabia. Saudi officials denied the report, which helped send crude down $2.14 to settle at $106.70 per barrel in New York on Friday...

“The magnitude of the response to the unfounded rumor highlights a tight crude supply situation that will be keeping the entire market highly responsive to even the smallest hint of a supply disruption,” energy consultant Ritterbusch and Associates said in a report...

Traders will also be closely watching the latest U.S. economic indicators this week. The economy has been showing signs of gradual improvement in recent months...
Bull **** world politics mixed with stock news
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