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Rise in oil prices following the news of an explosion in Saudi Arabia
03/03/2012
BAGHDAD - Agencies
Crude oil prices jumped to its highest level in 43 months after reports of an explosion in the pipeline in Saudi Arabia, the largest oil producer in the world. The price of Brent crude in the Stock Exchange New York on Thursday by 5.74 dollars to 128.40 dollars a barrel, its highest level since July 2008 . denied Saudi officials the news, which helped to falling prices for high levels of trading on Friday morning in Asia. and contributed to several factors in the rise in oil prices, including tensions over Iran's nuclear program. and beyond the level it has reached in oil prices last Thursday, the rise it has reached during the War in Libya last year. The problem facing the oil market now is that the events in a number of countries which could affect the supply and demand, and make customers respond quickly to speculation and uncertainty. and was the direct cause of the high prices Thursday a report in the Iranian media for an explosion in a pipeline in Saudi Arabia. The news came at a time of growing tension between the United States and its allies on the one hand and Iran on the other.
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03/03/2012
BAGHDAD - Agencies
Crude oil prices jumped to its highest level in 43 months after reports of an explosion in the pipeline in Saudi Arabia, the largest oil producer in the world. The price of Brent crude in the Stock Exchange New York on Thursday by 5.74 dollars to 128.40 dollars a barrel, its highest level since July 2008 . denied Saudi officials the news, which helped to falling prices for high levels of trading on Friday morning in Asia. and contributed to several factors in the rise in oil prices, including tensions over Iran's nuclear program. and beyond the level it has reached in oil prices last Thursday, the rise it has reached during the War in Libya last year. The problem facing the oil market now is that the events in a number of countries which could affect the supply and demand, and make customers respond quickly to speculation and uncertainty. and was the direct cause of the high prices Thursday a report in the Iranian media for an explosion in a pipeline in Saudi Arabia. The news came at a time of growing tension between the United States and its allies on the one hand and Iran on the other.
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