Obama: Harsh U.S. rhetoric on Iran boosting oil

Reuters: Democratic presidential candidate Barack Obama said on Monday that harsh U.S. rhetoric toward Iran appeared to be contributing to the surge in oil prices and that a calmer approach might help soothe the markets.

ST. LOUIS (Reuters) – Democratic presidential candidate Barack Obama said on Monday that harsh U.S. rhetoric toward Iran appeared to be contributing to the surge in oil prices and that a calmer approach might help soothe the markets.

Obama was asked in a news conference about some ways that the United States could help reduce the price of oil in the short term.

The Illinois senator listed some of his energy proposals such as a plan to rein in excessive speculation in the energy markets.

"There are some geopolitical issues that affect the price of oil," he added. "So for us to ratchet down the rhetoric when it comes to Iran, for example, and engage in tough, principled diplomacy, as I've called for, might calm the markets down."

(Reporting by Caren Bohan)