New high for oil prices

Oil prices soared to a new high today as spiralling tensions on the border between Turkey and northern Iraq added to concerns over winter supplies.

New high for oil prices
Mon, 15 Oct, 2007 - 14:23

Oil prices soared to a new high today as spiralling tensions on the border between Turkey and northern Iraq added to concerns over winter supplies.

The cost of light, sweet crude for November delivery jumped to nearly $85 US dollars a barrel – a new high – in trading in New York, building on highs seen last week on the back of disappointing inventory figures.

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