Oil Prices Rise as Uranium Enrichment Exposed in Iran
Oil prices rose Friday as the UN International Atomic Energy Agency (IAEA) found further proof of Iran’s covert nuclear weapons program, raising the fear of a military strike. It also lowers the chances of a diplomatic solution as these infractions are exposed.
Iran has doubled their stockpiles of 20% enriched uranium in the past few months to 145kg, the IAEA says. Enriched uranium of these amounts and levels can only be for nuclear weapons – something Iran strongly denies. However there is no civilian purpose for 145kg (and growing) on 20% enriched uranium.
Crude oil prices rose $0.20 to close at $90.86 per barrel – well down from its peak of $110.55 on March 1st.
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