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.

See Also:
Oil Drops Suddenly On Fears of Global Recession

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.