Oil prices up again despite Saudi production pledge

Oil prices rose today as investors shrugged off Saudi Arabia’s pledge to increase production if needed.

Oil prices up again despite Saudi production pledge
Mon, 23 Jun, 2008 - 11:02

Oil prices rose today as investors shrugged off Saudi Arabia’s pledge to increase production if needed.

The cost of light, sweet crude increased by more than US$1 to US$136.71 (€88) a barrel in early trading on New York commodity markets.

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