Oil Crosses $109 US on rising Concerns about Iran

Oil prices closed above $109 US a barrel Friday on fresh concerns about Iran’s nuclear program and despite evidence that demand remains weak.

Retail gasoline prices in Canada and the U.S. also rose.

Crude for April delivery closed at $109.77 a barrel in New York, up $1.94.

Iran has rapidly ramped up production of higher-grade enriched uranium over the last few months, the UN nuclear agency said Friday in a confidential report that feeds concerns about how quickly the Islamic republic could produce an atomic bomb.  Read More…

This article has 12 Comments

  1. Isidro F.

    Why does the gas price ALWYAS rise on an election year in the US? It’s quite extraordinary this happens every 4 years.

  2. Magan

    We seriously need to shift to electric cars.

  3. Daniel C

    My fear is Harper will finally has his reason to join the US in war and put us in deeper debt.

  4. Orlondo Rogersand

    This whole Iran issue is all fabricated and gobbled up by all the media. They want and NEED a war because they live off ratings.

  5. Rowan

    And in other news the sky is blue.

  6. Loni

    Remember everyone that gas prices are set by oil speculators NOT by shortages. So it is manipulated to seem high so the very few can get rich. Iran is just the excuse they need to raise them higher.

  7. Koby Q.

    And Exxon and BP will now have record profits again this year because of it.

  8. Aden

    Since Iran is an oil rich country this is a high chance America will want to attack them. We’ve seen this story before.

  9. Dylan Carstang

    Oh great and here i was thinking i wouldn’t have to shell out another $100 to fill my gas each week.

  10. Marques

    War! War! War!

  11. Dillon Goodman

    And here we go again!

  12. Emery Puhrmann

    I blame the people not the companies trying to profit from it because there are many alternatives to be dependent on oil but the general public is too lazy to want to bite.

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