What's a single British sailor worth to the Iranian government? In excess of $2 million, so far., page 1

What's a single British sailor worth to the Iranian government? In excess of $2 million, so far.

www.forbes.com

What's a single British sailor worth to the Iranian government? In excess of $2 million, so far.

Oil analysts have pointed to the political tensions stemming from Iran's capture of 15 British sailors and marines on March 23 as the prime catalyst that has moved crude prices higher every day since. That's provided a nice little windfall for the world's fourth-largest oil producer.

From a closing price of $61.69 a barrel the day before the capture to the latest trading price of $65.34, crude has risen from as little as four cents to as much as 67 cents in each of the last five trading days. Multiplying the increases by Iran's average daily production of 4.2 million barrels nets an extra $38 million in proceeds that have hit the country's coffers, or just over $2 million for each sailor captured.

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