Published on Jan 6, 2012 by
Euronews
http://www.euronews.net/
Mounting tensions between Iran and the West are sparking concern over
possible supply disruptions pushing the price of Brent crude oil above
$113 a barrel on Friday.
Analyst expect more volatility after Iran threatened to shut the Strait of Hormuz, the world's most important oil route.
That was in response to tighter sanctions from the US and a possible ban on its crude exports to Europe.
"The supply risk regarding Iran is still boiling. On top of this, there is also supply risk from Nigeria," said Carsten Fritsch, analyst at Commerzbank.
Analyst expect more volatility after Iran threatened to shut the Strait of Hormuz, the world's most important oil route.
That was in response to tighter sanctions from the US and a possible ban on its crude exports to Europe.
"The supply risk regarding Iran is still boiling. On top of this, there is also supply risk from Nigeria," said Carsten Fritsch, analyst at Commerzbank.
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