Crude oil futures decline after gains on the Iranian issue

Crude oil futures were rising rapidly on the growing threats that Iran, one of the man oil exporters, might disrupt operations due to western economies opposition to its nuclear program. However, on Wednesday light, sweet crude oil started to decline. On the New York Mercantile Exchange, crude futures for January delivery traded at USD99.88 a barrel at the Asian morning trade, edging down 0.26% since opening.