|
London: Oil climbed above $71 to a nine-month high on Thursday after a report by the United Nations' nuclear agency opened the way to tougher sanctions against the world's fourth biggest crude exporter.
London Brent crude, a more accurate indicator than US oil, gained 64 cents to $71.24 a barrel after hitting a fresh nine-month high of $71.29. US crude traded up 20 cents at $65.97.
Prices steamed higher after US warships put on a show of force off Iran's coast on Wednesday, coinciding with a report by UN monitors that Tehran had expanded its nuclear programme.
"Iran has come back to the forefront and it's definitely having an impact," said an oil broker in Tokyo.
The heightened Iran tension added to concerns about summer fuel supplies in the world's top consumer the United States, where gasoline inventories have been rising but remain below average levels ahead of summer demand.
|
