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H17268

Headlines : "War on Terror"

Summary:

If ever there is ever going to be a time to start bringing freedom and democracy to them Iranians it has to be now. For God’s sake with the holiday season starting up what’s it going to cost us to fill the tank for our jaunt to the coast.

“Why should OPEC try to lower the prices, despite the demands from the United States and Britain?” Oil Minister Gholam Hossein Nozari told an oil conference in Tehran.

“They can go on demanding what they want,” he said.

[Posted By Watson]

By Unattributed
Republished from AFP

Peak Prices for Peak Oil

Oil prices streaked into new record territory for the second straight day Wednesday, boosted by a decline in US energy reserves and as the weakening dollar drew investments in commodities.

New York’s main oil futures contract, light sweet crude for delivery in May, crossed 115 dollars a barrel for the first time and hit 115.14 dollars in electronic trading after the market close.

The contract had settled up 1.14 dollars at a record close of 114.93 dollars earlier Wednesday, before surging higher in after-hours trading.

In London, Brent North Sea crude for June struck an intraday record high of 112.79 dollars a barrel before closing at a record 112.66 dollars, a gain of 1.08 dollars.

London Brent surged even higher in after-hours trading, however, striking a record peak of 112.83 dollars.

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