Friday, May 14, 2004

Up, up, up with a fish!
US crude oil futures hit another all-time intraday high on Friday at $41.50 a barrel, before falling back again.

This extends the life-time high reached late in the New York trading session on Thursday.

The oil price has been pushed to record levels this week due to growing concerns that the US is facing a very tight gasoline market during the busy summer driving season. While persistent fears about further attacks on oil infrastructure in the Middle East, particulary in Saudi Arabia, which holds the majority of the world's spare oil production capacity, and Iraq.

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