Oil futures for March delivery of light sweet crude hit an intra-day high of $80.51 as investors weighed the impact of a strike at a French refinery and growing concerns over the intentions of Iran’s nuclear program.
“The sentiment is quite bullish at this time because of the refinery strikes in France and the concerns over Iran’s nuclear issues,” said Victor Shum, an analyst at Purvin and Gertz energy consultants.
Source: AFP News
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012