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.
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.
AS CHAOS UNFOLDS, FIND SOLID GROUND…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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