|
(bbc.co.uk) --
Improvements in the global economy and tensions in the Middle East have pushed
up the price of oil. In mid-afternoon trading, Brent one-month futures were at USD110.81 a barrel while US light crude traded at USD102.02. Recent US employment
data has been better than expected, suggesting increased demand from the world"s
largest consumer of oil.
|
 |
And Iran, the world"s fourth-largest oil producer, is under pressure from
the West over its nuclear programme. Iran produced 4,245,000 barrels of oil a
day in 2010, according to BP"s statistical review of world energy.
On Friday
last week, diplomats working at the Iranian embassy in London were expelled.
They were ordered to leave by UK Foreign Secretary William Hague after
protesters stormed the British embassy in Tehran on Tuesday.
|
|
Also last week, the US Senate voted to penalise financial institutions
doing business with Iran"s central bank, because of worries over the country"s
nuclear programme. And on Sunday, Iran"s official Irna news agency reported it
had shot down an unmanned US drone aircraft. The European Union is
reportedly considering a ban on Iranian oil exports which may interrupt oil
supply to the region.
mrcplast.com
|
