Immediately after the news item was broadcast and published, the oil price at New York market hiked up by one dollar. But when the United States government announced that has everything under control, the oil price reduced from 88 to 86 US dollars.
At the same time the Brent oil price has yet stabled at 102 dollars and many experts see that unlikely to fell down in the London market within the next weeks.
On Tuesday, by the request of Iran Egypt's new military rulers who took power from ousted Hosni Mubarak more than a week ago allowed two Iranian warships to pass through the strategic waterway.
Iranian warships have not passed through the Suez Canal since 1979. The two ships have been sent through the canal for a mission in Syria. In Syria, officials at the Iranian embassy said it would mark the first time in years that Iranian warships dock in a Syrian port.
The canal linking the Red Sea and the Mediterranean enables ships to avoid a lengthy sail around Africa.
The Islamic Republic has regarded the passage of its warships as a peaceful action in line with its pacifist politics, but Israel claims the new measure taken by Iran is meant to be provocative.
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