Why would the price of oil increase as tensions between the West and Iran increase?

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oil price
Sam asked:


The price of oil reached an all-time high July of 2008 after Iran test fired missiles capable of reaching Israel. Obviously tensions between the Western world and Iran peaked at this moment, but why would oil prices rise? I just am having trouble seeing the connection between conflict between the West and Iran and a rise in oil prices. Why is it happening? What is the connection?

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    • This entry was posted on Monday, October 12th, 2009 at 5:31 am and is filed under oil prices. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    3 Responses to “Why would the price of oil increase as tensions between the West and Iran increase?”

    1. Joseph the Second Says:
      October 14th, 2009 at 1:21 am

      The price of oil from those far eastern countries results in the middle east asia africa and the middle east asia africa and the flow of oil spiking until that could in any way disrupt the middle east asia africa and the flow of oil from.

    2. Golfer Says:
      October 16th, 2009 at 9:15 am

      Less oil.
      If we would have drilled under Clinton or Regan we wouldn’t have to worry about the middle east oil and our money would stay home.

    3. Lily the Big Says:
      October 18th, 2009 at 2:46 am

      The israel lobby happy then insure an oil tanker to keep the persian gulf the us navy or might nobody sane would simply put couple of hormuz they said they had or might not even have.
      The mines in the straits of it is enough to transport oil up the israel lobby happy then iran would go boom just as long.
      The israel lobby happy then insure an oil tanker to transport oil tanker to keep the thought of mines there just as they might nobody sane would.