Concerns over Iran's nuclear ambitions continue to haunt investors, oil prices rebound

01-Mar-12
Concerns over Iran's nuclear ambitions have returned to haunt investors. Oil prices, sliding since Monday on profit-taking and worries that high energy costs could erode demand, have recoiled. New York's main contract, light sweet crude for delivery in April, saw marginal gains to rise to US$106.8, while Brent North Sea crude for April delivery rose to US$122.1, as per AFP. Concerns over the need to find alternative sources in case of a supply disruption continue to reemerge.
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