The Change Mariner: Terror Fears Push Oil Prices to New High

May 14, 2004

Terror Fears Push Oil Prices to New High

Oil prices soared to a record Thursday on the New York Mercantile Exchange, crossing $41 a barrel and settling at the highest point in the 21-year-history of crude futures trading in New York.
June light, sweet crude oil futures settled at $41.08, up 31 cents from Wednesday, after touching an intraday high of $41.10.

The previous high was $41.07 on October 11, 1990, in the run-up to the Persian Gulf War (news - web sites). That day, Brent blend crude oil futures settled at $41.15 on London's International Petroleum Exchange.

On Thursday, June Brent gained 54 cents to settle at $38.49 a barrel on the IPE.

Posted by Bob King at May 14, 2004 04:55 PM | TrackBack
Related Categories: Industry - Energy | Quadrant - Economic | Theme - 'Response to Terrorism'

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