Worries About Iran Push Oil Prices Higher

By Scott Bittle on June 30, 2008

Oil prices rose $3 per barrel on international markets today, with traders worried about a possible conflict over Iran's nuclear program. The Iranian government relies heavily on oil revenue to keep its troubled economy functioning despite increasing international pressure. The rise in oil prices comes as The New Yorker reports the Bush administration is increasing covert operations against Iran.

In our Confidence in U.S. Foreign Policy Index, we find very few Americans want to take military action against Iran. Some 47 percent favor diplomacy -- a 12-point increase from 2007. As of last March, some 35 percent said they worried "a lot" about a military conflict with Iran, which is actually fairly low compared to other concerns in the index. And only 23 percent think the United States can do "a lot" to prevent Iran from becoming a nuclear power.

Tags:  Iran, nuclear, oil

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