[Ost-news] Oil hits record near $127 as Iran mulls output cut

[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 $127 as Iran mulls output cut  
Reuters  
May 13 2008

NEW YORK, May 13 (Reuters) - Oil surged to a record peak near $127 on Tuesday after OPEC producer Iran said it was studying a plan to cut output despite signs record-high prices are hurting consumer nations.  
U.S. crude jumped $2.00 to $126.23 a barrel by 1:45 p.m. EDT (1745 GMT), after striking a record $126.98 earlier. London Brent crude rose $1.61 to $124.52 a barrel.

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    [1]: http://oilsandstruth.org/oil-hits-record-near-127-iran-mulls-output-cut

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