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Market reaction to Iran regime’s resumption of nuclear activities

Oil marketNCRI – Oil in international market rose to $64 on Tuesday after Iranian regime, the world’s fourth biggest crude exporter, broke U.N. seals at a nuclear power plant in Natanz.

Oil is $5 a barrel higher since late December, even after a retreat on Monday, driven by renewed tension in the Middle East and a rush of investor money.

U.S. crude gained 55 cents to $64.05 a barrel by 1230 GMT. Prices hit a peak of $64.61 on Monday, their highest since October 12, before easing. London Brent crude rose 35 cents to $62.36.

Analysts said they could see no easy solution to the Iranian situation, raising the risk of supply disruption from OPEC’s second biggest producer.