From: Clive Denton
Date: 2007-10-16 06:56:42
Oil Rises Above $86 to a Record on Turkey-Iraq Border Tension By Mark Shenk Oct. 15 (Bloomberg) — Crude oil rose above $86 a barrel for the first time in New York on concern Turkish forces may pursue Kurdish militants in Iraq, curbing shipments as refiners prepare for the peak-demand heating season. Prices climbed as much as 3 percent because Turkey’s military may attack Kurdish bases in Iraq, which has the world’s third-largest oil reserves. Futures also increased after the Organization of Petroleum Exporting Countries said production outside the group will be lower than previously forecast. Read Full Report
