Monday, August 02, 2004

Now Brent crude prices are above $40/barrel, too.
Crude oil prices soared to fresh highs on Monday morning after the terror alert in the US was stepped up on Sunday with a warning from Tom Ridge, homeland security secretary, that al-Qaeda had singled out financial institutions in the New York area and Washington for car and truck bomb attacks. . . .

Crude futures, already soaring on speculation that sabotage strikes will affect supply from the Middle East to the west, were tipped higher during pre-market electronic trade.

Brent crude for September rose to a new 14-year year high of $40.05 a barrel in London, while Nymex crude for September hit a fresh record high of $43.92 a barrel before slipping back to $43.64 in pre-market electronic trading.


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