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from.– Oil Crisis...is
the world about to be shocked
Nuke, terror fears pump up oil price
Cape Argus
Oil held near its record high of $64 a barrel yesterday as traders
worried that a nuclear stand-off with Iran and possible militant strikes
in Saudi Arabia could disrupt crucial Middle East exports.
| Worries that the US, the
world's biggest consumer, may run short of petrol after almost a
dozen refinery closures in the past few weeks has contributed to
the surge. |
The UN nuclear watchdog was to hold an emergency meeting after Opec's
second biggest producer, Iran, restarted work at a uranium conversion
plant, defying the European Union and running a risk of UN sanctions.
In the world's top exporter, Saudi Arabia, US missions were shut for a
second day as Britain said militant extremists were in the "final
stages" of planning attacks.
US light sweet crude set a fresh record at $64.27 a barrel, over 46%
higher than the start of the year. Brent crude raced to a record $63.06.
Worries that the US, the world's biggest consumer, may run short of
petrol after almost a dozen refinery closures in the past few weeks has
contributed to the surge.
US pump prices reached a record high of $2.37 a gallon last week. -
Reuters.
|