Oil continued its record-breaking run on Thursday, hitting 145 dollars a barrel for the first time after a US report added to supply worries and the US dollar weakened, analysts said.
Brent North Sea crude for August delivery traded at 145.00 in early Asian trade, 74 cents higher than its record close of 144.26 in London the previous day, when the contract topped 144 dollars for the first time.
New York's benchmark futures contract, light sweet crude for August delivery, was 81 cents higher at 144.38 from its record close of 143.57 on the New York Mercantile Exchange on Wednesday.
The latest surge followed a warning from Iranian Oil Minister Gholam Hossein Nozari that his country would react fiercely to any attack against it.
"Iran, if there were any kind of activity of any sort, is not going to be quiet and would react fiercely," he told reporters on the sidelines of the World Petroleum Congress in Madrid.
Read the full article>>
Brent North Sea crude for August delivery traded at 145.00 in early Asian trade, 74 cents higher than its record close of 144.26 in London the previous day, when the contract topped 144 dollars for the first time.
New York's benchmark futures contract, light sweet crude for August delivery, was 81 cents higher at 144.38 from its record close of 143.57 on the New York Mercantile Exchange on Wednesday.
The latest surge followed a warning from Iranian Oil Minister Gholam Hossein Nozari that his country would react fiercely to any attack against it.
"Iran, if there were any kind of activity of any sort, is not going to be quiet and would react fiercely," he told reporters on the sidelines of the World Petroleum Congress in Madrid.
Read the full article>>
Post a Comment