Iran’s Trump Card

Evidence of Iran’s influence over the global economy appeared Wednesday as the oil-rich nation agreed to release 15 British captives and petroleum prices consequently fell. If a relatively minor diplomatic dispute can perturb investors, imagine how invading or bombing Iran would affect global markets.

BBC:

World oil prices have fallen after Iran said it would immediately release 15 seized British navy personnel.

New York light crude fell 43 cents to $64.21 a barrel after the announcement by Iran President Mahmoud Ahmadinejad.

Brent crude slipped three cents to $67.78. However, the falls were offset by a sharp drop in US petrol supplies.

Prices had surged to seven-month peaks above $69 a barrel in London on Monday on fears the stand-off could disrupt crude exports.

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news.bbc.co.uk

Iranian President Mahmoud Ahmadinejad