Oil Rises 3 Percent After Iran Bars Inspectors From Base

Bloomberg reported that oil surged 3 percent after Iran refused International Atomic Energy Agency officials to visit the Parchin base.

As quoted in the market news:

Crude oil for April delivery increased 3 cents to $106.28 a barrel on the New York Mercantile Exchange, the highest settlement since May 4. Futures have gained 14 percent in the past year.

Click here to read the full Bloomberg report.