[Ost-news] Oil hits record near $147 as supply fears intensify

[Oil Sands Truth: Shut down the Tar Sands - social and environmental impacts of tar sands heavy oil projects across North America]

Oil hits record near $147 as supply fears intensify  
Santosh Menon, Reuters  
Published: Friday, July 11, 2008

LONDON (Reuters) - Oil leapt $5 to a new record high near $147 a barrel on Friday, spurred by growing worries of threats to supplies from Iran and Nigeria and the possibility of a strike by Brazilian oil workers next week.

U.S. crude was $4.85 at $146.50 a barrel by 9:15 a.m. EDT, off highs of $146.90, taking gains in just two sessions to over $10. It rose $5.60 or 4 percent a barrel on Thursday in a late burst of buying activity.

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    [1]: http://oilsandstruth.org/oil-hits-record-near-147-supply-fears-intensify

URL: http://oilsandstruth.org/oil-hits-record-near-147-supply-fears-intensify