Hogan's Alley

Friday, April 28, 2006

Don't Expect Any Good News On Oil From Iran

In case anyone out there was hoping that Iran to come into compliance with the UN's IAEA demands and thereby reduce the tensions that are, in part, driving up oil market prices, sorry.

The IAEA had now reported that Iran is persisting in pursuing its nuclear efforts. At the same time Iran's beloved President, Ahmadinejad, told a rally that, "The Iranian nation won't give a damn about such useless resolutions", referring to a potential Security Council resolution against it.