Oil prices jumped above $73 a barrel Monday after Iran’s supreme leader threatened that his nation could jeopardize the world’s oil supply if the West punishes Tehran over its nuclear program.
Iran’s supreme leader Ayatollah Ali Khamenei – who has the final say on all state matters – told Western nations in a speech Sunday that “If you make any mistake (punish or attack Iran), definitely shipment of energy from this region will be seriously jeopardized.”
Light, sweet crude for July delivery on the New York Mercantile Exchange rose $1.24 to $73.57 a barrel in electronic trading by afternoon in Europe.
