Oil prices have surged past $93 with a member of the Iranian parliamentary energy committee predicting prices to soar to $120 a barrel. Crude on NYMEX spiked at $93.68 a barrel. The falling dollar, problems with Nigerian output, bad weather reducing production in Mexico and worries over Turkey's actions in northern Iraq have been cited as factors responsible for the unprecedented surge.
Oil predicted to hit $120
Tue 30 Oct, 2007
| Posted in: Strait Talking
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