WSJ:OIL FUTURES: Brent, Nymex Crude Up 2% On US-Iran Tensions
By Jenny Gross
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Brent and Nymex crude oil prices rose more than 2% in Tuesday trading as tensions between the U.S. and Iran caused worries about oil supply, analysts said.
"Many traders are coming back to the market today, so the main thing is to be able to assess the potential risk with Iran," said Olivier Jakob, an analyst at Petromatrix. "2011 was really the story of Libya and the question now is whether 2012 is going to be the story of Iran."
Jakob said concern over Iran could dominate markets until late January, when the euro-zone leaders were expected to meet.
At 0920 GMT, ICE February Brent was up $2.13, or 2.0%, at $109.52 a barrel. Nymex February crude was up $1.92, or 1.9%, at $100.77 a barrel.
-By Jenny Gross, Dow Jones Newswires; 4420-7842-9239; jenny.gross@dowjones.com
