Market Journal

Political, financial problems batter marketsAfter 2 days of sharp declines, the June crude contract again climbed above $70/bbl May 5 in the New York market as the US, UK, and France pushed the United Nations Security Council for a resolution demanding Iran quit enriching uranium.Thus the first week of commodity trading in May ended the way it began, with crude prices rising on traders’ fears of supply disruptions due to Iran’s nuclear program and continued unrest in Nigeria.“In addition, Bolivia’s move to nationalize its oil and natural gas assets raised concern that a wave of similar such actions throughout Latin America could negatively impact energy investment ...

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