Crude oil for May delivery edged $0.07 higher to $65.94 per barrel during normal trading in New York, after climbing as high as $66.69 intra-day, and trading as low as $65.49 (-0.7%) in after-hours activity, following comments by Iran's National Security Council chief, who said Iran doesn't see a need for the 15 U.K. sailors detained since Mar. 23 to face a trial. He also said Iran is "not interested in having this issue get further complicated." In London, Brent crude hit $69.54 intra-day, its highest level since last Sept.
A broker at Altavest Worldwide Trading commented, "We could probably drop a couple of dollars" if tomorrow's U.S. gasoline inventory rose last week. Goldman Sachs analysts however, noted "In the current tight supply environment, a potential disruption of Iran's oil supply could have a very significant impact on global oil balances." Nearly 25% of the world's oil is transported through the Strait of Hormuz between Iran and Oman.
A broker at Altavest Worldwide Trading commented, "We could probably drop a couple of dollars" if tomorrow's U.S. gasoline inventory rose last week. Goldman Sachs analysts however, noted "In the current tight supply environment, a potential disruption of Iran's oil supply could have a very significant impact on global oil balances." Nearly 25% of the world's oil is transported through the Strait of Hormuz between Iran and Oman.
