Wednesday, Crude-market was flat. Iran’s Missile tests rattled the market confidence and from past two days crude-market was following a sell-off. Traders are concerned that the increased tensions between Iran and West could hamper the oil supplies from the oil rich county. The Government’s weekly report on oil inventories showed that the crude stockpiles fell more than expected the earlier week. Energy Department said crude stocks fell bigger than expected by the analysts. So the crude delivery for August settled 1cent higher on New York Mercantile Exchange.
So the supply of Oil is in Iran’s hands. So will the tensions hamper the oil supplies?
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