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Truth or Dare

The price of oil spiked yesterday at the end of the day on rumors of a pipeline explosion in Saudi Arabia. Officials denied the report. Gosh, a little bad news sure sends oil prices up,up, up.

What about Iran’s nuclear program? I’m worried.

How about Israel and its new ballistic interceptor missile? Iran’s not gonna like that one. More worries.

“The Iran crisis has led to a sharp rise in the oil price since the beginning of the year,” said a report from Commerzbank in Frankfurt. “Concerns about supply disruptions are likely to persist for some time, justifying a longer lasting risk premium on the oil price.”

Worried.

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