News Journal

Crude oil falls after Iran’s response on uranium enrichment

Prior to the speculation of tensions in middle- east, the oil prices went above $145.85 a barrel. It was expected that Israel is ready to make an attack on Iran’s nuclear installment unit and the tension would have affected the crude oil market.

But the recent constructive response from Iran over halting uranium enrichment plan has reduced the tension in Middle East to reduce the crude oil price in market. For August delivery crude was at $144.04 a barrel on the New York Mercantile Exchange.