You are hereIran tension boosts oil prices
Iran tension boosts oil prices
Brent crude has been at its highest price in nine months -- above $124 a barrel.
US light crude also hit a nine-month high this week.
The reasons, tension between Iran and the West over Tehran's nuclear programme. UN inspectors sent to visit Iran's nuclear installations declared their mission a failure, a setback likely to increase the risk of confrontation with the West.
The US dollar is also weak and oil is priced in dollars.
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