From The Associated Press, 8/20/04:
http://www.canada.com/businesscentre/story.html?id=A5FE1FC2-1455-4B42-B1BB-48A6FEB251DA
Oil prices near $50 US a barrel as crude strikes another fresh record
JAKE LLOYD-SMITH
SINGAPORE (AP) -
Oil prices neared the $50-per-barrel threshold Friday after striking a
fresh record levels amid heightened concern about supplies in
strife-torn Iraq, and doubts over how much extra crude could be pumped
anytime soon to ease the price surge.
Market watchers said some investors had started to whisper about the
possibility of a $60 barrel, even as the head of producers' cartel
OPEC made soothing-but-vague comments about "a significant outcome"
from its next members' meeting in September.
"$50 is, I would say, a foregone conclusion," said Esa Ramasamy,
editorial manager for oil in Asia at Platts, the energy market
analysts.
"Now the market is thinking $60, possibly."
_______________________________________________________
Up and up and up and up
Harry
.
|
