Oil Prices Reflect Global Tension
INTERNATIONAL
COMMENTLINE
Oil tops $72 a barrel overseas, but why?
Saber rattling with Iran and worries about a supply disruption in Nigeria are driving record highs.
But OPEC thinks prices are over the top and have nothing to do with the realities of supply and demand.
Read on.
NEWSLINE
"The oil market is taking the threat seriously as Iran may have gone down the path that leads to the point of no return."
NEWSBYTES
Oil prices break new records as Iran tensions mount
NEW YORK (AFP) -- Oil prices broke new ground above 71 dollars a barrel owing to mounting tensions over Iran's nuclear ambitions, fears of US gasoline shortages and rapid economic growth in China.
It's a record: Oil tops $72 overseas
Iran worries push up prices of Brent, NYMEX crude; Nigeria supply disruptions, fund buying provide support.
LONDON (Reuters) -- Oil surged to a record high above $72 Tuesday on concerns that Iran's nuclear standoff with the West could cut oil exports from the world's fourth-largest crude exporter. Read more.
Oil Nears Record on Concern Conflict in Iran Will Cut Exports
April 18 (Bloomberg) -- Crude oil traded near a record set earlier today amid concern tension over Iran's nuclear research will erupt into armed conflict and cut exports from the world's fourth- largest producer.
Nuclear row sends oil to new high
(BBC) -- Oil prices have hit a record high of $70.86 a barrel, fuelled by growing fears over Iran's nuclear standoff with the international community.
Oil prices hit record $71
(Aljazeera.Net) -- Mounting tensions over Iran's nuclear ambitions have driven oil prices to a new record of more than $71 a barrel.
Economy shows signs of slowing amid high oil
NEW YORK (Reuters) -- The U.S. economy may be showing signs of fatigue after surging at the beginning of the year, reports showed on Monday, as energy prices climbed to record highs.
OPEC believes oil prices are too high: delegate
DUBAI (Reuters) -- OPEC believes oil prices are too steep, after setting a fresh record high above $70 a barrel, and the rise is not justified by market fundamentals, a senior OPEC delegate said on Tuesday.
Rising oil prices
(Economist.com) -- THE spectre of another oil crisis all of a sudden looms large, and this at a time when the world economy has barely begun to recover from last year's recession. There are fears that conflict in the Middle East could once again send oil prices sharply higherÂand send world economic output tumbling. To judge by the rise in oil prices thus far, such fears are overdone.
Big jump in gasoline prices pushes up inflation at wholesale level
WASHINGTON (AP) -- A big jump in gasoline prices pushed inflation at the wholesale level up in March at the fastest pace in three months, as oil prices above $70 a barrel sent consumers a high-octane warning of expensive fuel costs ahead.
Tags: terrorism, Middle East, Iran, war, IAEA, nuclear, Israel, Russia, Arab, Islam, Muhammad, prophet, Mohammad, Muslim, terrorism, Bush, UN, U.N., United Nations, United States, oil, OPEC, economics
Global Tags: Washington DC, News and Politics, News, Politics, Current Events, Current Affairs, Life, Culture, Tension
COMMENTLINE
Oil tops $72 a barrel overseas, but why?
Saber rattling with Iran and worries about a supply disruption in Nigeria are driving record highs.
But OPEC thinks prices are over the top and have nothing to do with the realities of supply and demand.
Read on.
NEWSLINE
"The oil market is taking the threat seriously as Iran may have gone down the path that leads to the point of no return."
NEWSBYTES
Oil prices break new records as Iran tensions mount
NEW YORK (AFP) -- Oil prices broke new ground above 71 dollars a barrel owing to mounting tensions over Iran's nuclear ambitions, fears of US gasoline shortages and rapid economic growth in China.
It's a record: Oil tops $72 overseas
Iran worries push up prices of Brent, NYMEX crude; Nigeria supply disruptions, fund buying provide support.
LONDON (Reuters) -- Oil surged to a record high above $72 Tuesday on concerns that Iran's nuclear standoff with the West could cut oil exports from the world's fourth-largest crude exporter. Read more.
Oil Nears Record on Concern Conflict in Iran Will Cut Exports
April 18 (Bloomberg) -- Crude oil traded near a record set earlier today amid concern tension over Iran's nuclear research will erupt into armed conflict and cut exports from the world's fourth- largest producer.
Nuclear row sends oil to new high
(BBC) -- Oil prices have hit a record high of $70.86 a barrel, fuelled by growing fears over Iran's nuclear standoff with the international community.
Oil prices hit record $71
(Aljazeera.Net) -- Mounting tensions over Iran's nuclear ambitions have driven oil prices to a new record of more than $71 a barrel.
Economy shows signs of slowing amid high oil
NEW YORK (Reuters) -- The U.S. economy may be showing signs of fatigue after surging at the beginning of the year, reports showed on Monday, as energy prices climbed to record highs.
OPEC believes oil prices are too high: delegate
DUBAI (Reuters) -- OPEC believes oil prices are too steep, after setting a fresh record high above $70 a barrel, and the rise is not justified by market fundamentals, a senior OPEC delegate said on Tuesday.
Rising oil prices
(Economist.com) -- THE spectre of another oil crisis all of a sudden looms large, and this at a time when the world economy has barely begun to recover from last year's recession. There are fears that conflict in the Middle East could once again send oil prices sharply higherÂand send world economic output tumbling. To judge by the rise in oil prices thus far, such fears are overdone.
Big jump in gasoline prices pushes up inflation at wholesale level
WASHINGTON (AP) -- A big jump in gasoline prices pushed inflation at the wholesale level up in March at the fastest pace in three months, as oil prices above $70 a barrel sent consumers a high-octane warning of expensive fuel costs ahead.
Tags: terrorism, Middle East, Iran, war, IAEA, nuclear, Israel, Russia, Arab, Islam, Muhammad, prophet, Mohammad, Muslim, terrorism, Bush, UN, U.N., United Nations, United States, oil, OPEC, economics
Global Tags: Washington DC, News and Politics, News, Politics, Current Events, Current Affairs, Life, Culture, Tension
posted by Steven Moyer at 8:28 AM
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