Oil edges closer to $150 a barrel

[mikebratcher69]

http://www.guardian.co.uk/business/2008/...NETTXT3487

Neither the US nor Israel has ruled out a military strike on Iran. Traders fear the oil-producing nation could retaliate by blocking the Strait of Hormuz, through which 40% of the world's tanker traffic passes.

"There's always a fear premium in pricing," said Jeff Brown, managing director of Facts Global Energy. "The tensions in Iran and the threat of supply disruption will help support oil prices."

Nigeria's main militant group also helped drive up oil prices by threatening to resume attacks on the country's oil production facilities.

British motorists are likely to feel the impact of these conflicts. Edmund King, the AA's president, said: "We held our breath for a moment, daring to hope that fuel prices may have peaked. But once again they're continuing to ratchet up the pressure on hard-pressed UK families."

[NorthernRaider]

The US NAVY has just rescued 13 IRANIAN sailors from the hands of Somali pirates.

[mikebratcher69]

Aww thats nice of them, just goes to show it'd be those nasty Iranians starting problems them not those cuddly wuddly Americans...