Oil prices set to pass $50 barrier next week

Oil prices look set to break through the $50 barrier next week after soaring to new record highs today.

Fri, 20 Aug, 2004 - 19:46

Oil prices look set to break through the $50 barrier next week after soaring to new record highs today.

Fresh attacks in Iraq added to the jitters of traders and sent the price of a barrel of oil to a peak of $49.40 before easing back slightly.

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