Crude oil rises on Iran worry
Business
Crude oil rose $1.45 to trade at $125.07 per barrel, as mounting tensions on Iran's nuclear programme saw a spike in the commodity.
Crude oil rose after IEA reported that Iran failed to co-operate with UN Nuclear officials in Tehran.
There are fears that a rise in crude prices is likely to derail a fragile economic recovery taking place around the world.
The last time crude prices rose to record levels in excess of $140 was followed by an economic recession.
Countries like India and China are particularly vulnerable to sharp increases in crude prices, as these countries export substantial amount of crude.
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Story first published: Saturday, February 25, 2012, 12:32 [IST]
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Feb 25, 2012
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