Crude spikes again; Brent crosses $125

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Crude spikes again; Brent crosses $125
Every time crude drops it seems to get tremendous support to rally again. Dropping from yesterday's low of $122 per barrel, Brent crude has again breached the $125 per barrel mark.

Improving data from the US and strong opening in Europe saw crude rallying once again past the $125 mark. Analysts believe that sharp hike in crude prices could easily derail economic prospects around the globe, since crude has a tendency to increase inflation.

The ongoing Iran nuclear crisis and long term solutions to it, can ensure crude prices cool off.

Read more about: crude, iran, europe
Story first published: Thursday, March 8, 2012, 14:55 [IST]
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