Futures Market News
Crude oil futures gain amid Irani resistance to inspectors
Feb 22, 2012 03:48 PM
Two days of discussions ended on Tuesday with the International Atomic Energy Agency inspectors unable to gain entry to the Parchin military base and unable to determine a method of advancing. The oil-rich Middle Eastern nation and its nuclear program is proving to be a thorn in the side of western nations, which have levied oil embargos as a method of reducing Iran's capacities.
"We're just watching the Iranian story play out," energy analyst Tim Evans with Citi Futures Perspective in New York told the news service. "What occurs in the market will depend on the developments there."
At 3:47 p.m. on Wednesday, crude oil futures gained 0.97 percent, a $1.18 rise to $122.84 per barrel.
Dow Jones Newswires reports Herman Nackaerts, chief inspector for the IAEA, told reporters at the airport in Vienna that despite efforts to "resolve all the outstanding issues ... we could not get agreement."
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Futures Traders’ Guide to the WASDE
Improve Your Understanding of the Grain Markets!
With this guide, you will learn how to use these fundamental reports to forecast the price of Corn, Soybeans and Wheat. Now that the markets are open during the release of the WASDE, understanding how this very important USDA report can impact the markets is as critical as ever.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.