Monday, June 05, 2006 6:09:53 AM
Oil Prices Jump on Iranian Supreme Leader's Threat to Energy Supply
SINGAPORE (AP) -- Oil prices jumped Monday in reaction to a threat by Iran's supreme leader that his nation could jeopardize the world's oil supply if the West punished Tehran over its nuclear program.
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Light, sweet crude for July delivery rose $1.02 to $73.35 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore. The contract rose Friday to $72.33 following the kidnapping of eight foreigners working on a drilling rig off the coast of Nigeria. The workers were released Sunday.
July Brent crude futures on London's ICE Futures rose $1.03 to $72.06 per barrel.
Iran's supreme leader, Ayatollah Ali Khamenei, who has the final say on all state matters, addressed Western nations in a speech Sunday, saying: "If you make any mistake (punish or attack Iran), definitely shipment of energy from this region will be seriously jeopardized."...***
I like to post what oil is selling for from time to time so those who review this bb later will know what was going on in the world while BDGR was at any particular price.
BDGR: $1.48
Ajor
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