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Summary Oil prices climbed over $96 per barrel as tensions rise over Iran's nuclear programme.
Oil prices are above $96 per barrel as tensions rise over Irans nuclear programme and OPEC boosts its demand forecast.Benchmark crude on Tuesday rose 56 cents to $96.08 per barrel in morning trading in New York. Benchmark oil hasnt traded above $96 in more than three months.Brent crude rose $1.22 to $115.78 per barrel in London.Prices rose as Irans president vowed to press ahead with the countrys nuclear programme. The United Nations is expected to report this week that Iran has been studying nuclear weapons.Meanwhile, OPEC boosted its medium-term forecast for global oil demand to 92.9 million barrels per day by 2015, up 1.9 million barrels from the previous forecast.
