Oil Futures Surged 76 Cents Due to Conflict Between Saudi Arabia and Iran

- January 16th, 2012

Reuters reported that oil futures surged 76 cents due to increasing tension between Saudi Arabia and Iran.

Reuters reported that oil futures surged 76 cents due to increasing tension between Saudi Arabia and Iran.

As quoted in the market news:

Brent crude futures rose 76 cents to close at $111.20 a barrel, after touching an intra-day high of $111.67. U.S. crude rose 99 cents to $99.69 a barrel, with trading activity very light due to a U.S. public holiday.

Click here to read the full Reuters report.

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