Crude rebounds post Iran missile testing

Crude has tumbled to USD 136 per barrel. It has tumbled the most in three months to USD 136 per barrel as the dollar gained. Concerns about economic slowdown also led to the decline in prices. Crude has fallen from a record high of USD 145.85 per barrel, which it hit last week. In after hours access trading, crude is trading at USD 136.50 per barrel on the Nymex. Following Iran test firing a missile, crude has rebounded from USD 136 levels.

After cooling off for a few days, crude is now back on the boil. This after Iran test fired missiles that have the potential to reach Israel and US bases in the region. Crude had fallen sharply yesterday after Iran said it does not wish to go to war with Israel or the United States. The black gold is currently trading at USD 137.70 per barrel, up 1.66 cents, on the Nymex.