Iran has spent the last day or so saying that its nuclear program is no threat to Israel and facing accusations from the US that it is supplying parts for roadside bombs.

Oil prices traded just below $60 on Friday due to cold weather and OPEC supply cuts. But, bad things come in threes, or so they say, and the news of tensions with Iran are unlikely to be good for the price of crude as it opens the week.

It may be that low fuel prices are due for an extended holiday.

Anyone fro $70 a barrel oil?

Douglas A. McIntyre