Oil Back Above $125: Iranian Threats Trump Faltering US Economy

In mid-day trading in Europe, oil is up less than $2 to just over $125. Iran’s President, Mahmoud Ahmadinejad raised more nuclear concerns by claiming that Iran possesses 6,000 centrifuges. Nigerian pipeline attacks aren’t helping either.

However, these concerns are causing a rather muted uptick in oil prices. Why? The US economy is still a mess.

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Oil Drops Suddenly On Fears of Global Recession

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