Output fears send oil prices soaring

Oil prices reached a new record high today on fears of a sharp slowdown in output from Russia and Iraq.

Output fears send oil prices soaring
Fri, 30 Jul, 2004 - 13:14

Oil prices reached a new record high today on fears of a sharp slowdown in output from Russia and Iraq.

The cost of crude surged to $43.17 a barrel in New York as investors fretted over a stand-off between Russian authorities and its largest oil company, Yukos.

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