Crude oil prices may sky-rocket

Crude oil prices may reach a record high next week amid concerns the Russian government’s dispute with OAO Yukos, the nation’s biggest exporter of the fuel, will disrupt shipments.

Sixteen of 31 survey respondents, or 52%, predicted oil futures in New York will rise. Five said the price may be little changed and 10 forecast a decline. A week ago, 37% of respondents expected a decline. Futures gained 0.3% this week through Thursday.

Yukos said the government’s plan to seize its main Siberian oil business to pay a $3.4 billion tax bill could bankrupt the company, cutting exports because of an inability to pay transport contractors. Organisation of Petroleum Exporting Countries members are producing near capacity, leaving little excess as a cushion in case of supply cuts.