Oil Rises to 3-Month High on Concern Over Iran Atomic Program

Crude oil rose to a three-month high as Iran escalated its nuclear program, raising concern that shipments from OPEC’s second-biggest producer may be cut.

“Every possible solution to the crisis could result in a cutoff of oil,” said Michael Fitzpatrick, vice president of energy risk management at Fimat USA in New York. “The only weapon the Iranians have to fight back with is oil and they won’t hesitate to use it.”
Bloomberg