Oil prices rise on continued concern about Iran
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 02:02 p.m., Wednesday, February 22, 2012
Oil prices rise on continued concern about Iran NEW YORK (AP) — Oil prices rose Wednesday on the expectation that world supplies could be squeezed further because of ongoing tensions with Iran. Brent crude, a benchmark for foreign oil imported by U.S. refineries to make gasoline, added $1.24 to end the day at $122.90 per barrel in London. The U.S. benchmark, West Texas Intermediate crude, which has ample supplies in the Midwest, rose slightly, adding just 3 cents to finish at $106.28 per barrel in New York. Massive budget cuts could keep the country stuck in recession, and the Greek bailout doesn't address debt problems in neighboring countries. [...] U.S. retail gasoline prices rose nearly a penny to a national average of $3.58 per gallon, according to AAA, Wright Express and Oil Price Information Service.
Source: Agence France-Presse Rioting on the French island of Réunion has continued for a fourth day, with nine policemen injured overnight and 76 people taken in for questioning. The troubles broke out on Tuesday with demonstrations against a rise in petrol prices. Duration: 00:
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