Oil prices climb in respone to Iran nuke crisis

January 21, 2006 10:21
1 minute read.

Crude oil prices rose above $67 Friday amid concern over the Iranian nuclear dispute, unrest in Nigeria, and al-Qaida's threat of terrorist attacks in the United States. Analysts fear that oil prices could surge much higher - even beyond $100 a barrel - if the UN Security Council imposes trade sanctions on Iran over its nuclear activities. Iran's Oil Ministry confirmed Friday that the country is pushing for the Organization of Petroleum Exporting Countries to cut its overall production.

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