Iran Crisis
Fourteen Bristish sailors were seized by Iran's military forces after an alleged transgression of the Irani sea borders. After a tense situation between both of the governments there's some relief in the state of things now that one of the soldiers, a woman, has been released.
All this agitated international scene has lead to a huge jump on the prices of crude that spiked an 8% of its price, racing from 63$ to 68.10$ in a matter of minutes.
Keep track of what's really happening around the black gold market. View our Futures commodties section. And if you want to see the effects on the currencies check our Rates and Charts section.
In-depth Analysis
- Flash Comment - Oil: Fundamentals and Middle-East tensions to support oil prices further by Danske Bank A/S
- Crude Market Update - Crude Spikes Sharply Higher in Asian Trading by Trade The News
- Daily Market Briefing - Dollar Rebounds as Rise in Oil Forces Fed to Remain Somewhat Hawkish by FXCM
- European and US summary - The dollar remains weak under the pressure of subprime market meltdown and high oil prices by Forexnews.com
- US Open Market Points - Iran Jitters by FXCM
- Overnight Briefing: Far East Timezone - Oil jumped to USD 68,09 by Jyske Bank
- Asia Market Update - Iranian tensions unsettle crude markets by Trade The News
- The Energy Report by Alaron Energies
Related News
Oil inches higher as Iran backtracks on vow to free female British sailor (AFX News)
Oil prices hold near six-month highs in Asian trade on concern about Iran (AFX News)
Oil rises as US reports falling oil stocks amid high political tensions (AFX News)
Oil shares trade mixed after DOE report (AFX News)
US gasoline stocks expected to have fallen in weekly oil data (AFX News)
Oil rises on escalating Iranian tensions, expected falls in US stocks (AFX News)
Oil prices touch six-month high on tensions between Iran and the West (AFX News)
Oil drifts lower but stays near 3-mth highs after gaining on Iran woes (AFX News)
Analysts' comments
- Mark Pervan, analyst at Daiwa Securities:
"The overriding factor today is still the Iranian situation. It's a lot of 'just-in-case' buying at this stage. It's a jittery market." - AFX News - Tony Juste, FX Advisor at FXstreet.com:
"Although the market let's say that reacted as it should with such an intriguing news, I find it more a means to justify a particular market direction rather than anything that should taken seriously. We should take it seriously only if a real confrontation starts, but with so many economic interests in the zone, will it happen now?" - FXstreet.com