Iran says will enrich uranium to highest level of 60% - AP

London (Quantum Commodity Intelligence) – Iran will begin enriching uranium up to 60% purity following the attack on its Natanz nuclear facility, according to the Associated Press news agency, quoting an Iranian negotiator Tuesday,

The AP report said this will push Iran's nuclear program to higher levels than ever before, but still remaining short of weapons-grade.

However, the announcement marks a significant escalation after the sabotage that damaged centrifuges, suspected of having been carried out by Israel — and could inspire a further response from Israel amid a long-running shadow war between the nations, said the AP report.

Israeli Prime Minister Benjamin Netanyahu has vowed never to allow Tehran to obtain a nuclear weapon and his country has twice preemptively bombed Mideast nations to stop their atomic programs.

Heightened tensions in the region could push crude oil higher.