From The Associated Press, 8/8/05:
http://www.msnbc.msn.com/id/5612507/
Oil prices soar to record high
U.S. refinery woes, Mideast concerns spook traders
BUDAPEST, Hungary -
Crude-oil prices rallied to a new high above $63 a barrel on Monday,
reflecting market fears over the U.S. embassy closure in Saudi Arabia
due to security threats and concerns that shutdowns of U.S. oil
refineries would reduce supply.
Light, sweet crude for September delivery rose to a high of $63.80 a
barrel on the New York Mercantile Exchange before falling back a bit
to $63.50, up $1.19.
Prices had settled at $62.31 a barrel on Friday, a record close for
crude since Nymex trading began in 1983.
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Harry
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