Oil Prices Surged 5 Cents on Iran Fears

Reuters reported that oil prices surged 5 cents on concern over supply risks and tensions over Iran’s nuclear program.

As quoted in the market news:

U.S. April crude was up 5 cents at $106.75 a barrel, having dropped to $105.50 and reached $107.42, a penny under front-month U.S. crude’s 10-day moving average.

Click here to read the full Reuters report.