Tensions over a possible attack on Iran's nuclear facility are behind the latest surge in the price of crude oil, a British news site reported Monday morning. "The main factors behind the rise on Monday are the United States dollar remains [sic] fragile and geopolitical tensions, particularly surrounding Iran," Australian commodity strategist David Moore told the Press Association.
An Iranian newspaper Saturday quoted an army general as saying that the Iranian government would disrupt oil tanker traffic in the Gulf if Israel or the United States tries to attack its nuclear site.
Crude has hit a record $140 dollars a barrel, prompting an increase in the inflation around the world as well as fears of a worldwide recession.