Crude Oil Rises on Iran Sanctions, Output Cut

Nasdaq

Crude Oil Rises on Iran Sanctions, Output Cut

Nasdaq

Crude Oil Rises on Iran Sanctions, Output Cut

-Crude-oil futures moved 1.2% higher Friday following news that the Obama administration had expanded sanctions on Iran. Front-month light sweet crude oil on the New York Mercantile Exchange settled at $87.10 a barrel, up $1.02. Analysts attributed Friday's price move to Thursday's news that the Obama administration expanded sanctions on Iran and to increased evidence that the Western policies are crimping Iranian oil output. The U.S. Treasury and State Departments Thursday targeted dozens of banks and shipping companies that the U.S. ...

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July 13, 2012

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