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Tuesday, June 17, 2008
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Oil reaches record, retreats on Saudi vow
Summary from multiple countries, from articles in English
NEW YORK - Retail gas and diesel prices reached new records Monday, adding to the pressure on drivers planning road trips for the coming holiday weekend, while oil prices stalled following last week's record highs. (article 9) The price of crude oil has hit a new high of close to $140 a barrel in New York trade, despite Saudi Arabia agreeing to increase output in July. (article 7) US light crude rose to $139.89 a barrel, surpassing the previous high of $139.12 on 6 June. (article 7) Light, sweet crude for July delivery fell 25 cents to settle at US$134.61 a barrel on the New York Mercantile Exchange after earlier soaring to a trading record of $139.89. (article 4) Crude oil prices jumped to a fresh high of nearly $140 a barrel on Monday in spite of indications from Saudi Arabia that it would boost production to its highest for more than 25 years. (article 8) Saudi Arabia, the world's biggest oil exporter, is planning to increase its output next month by about a half-million barrels a day, according to analysts and oil traders who have been briefed by Saudi officials. (article 5) The move was seen as a sign that the Saudis are becoming increasingly nervous about both the political and economic effect of high oil prices. (article 5)

Other summaries about this story:
  • Summary from the United Kingdom, from articles in English (2 articles) [compare]
  • Summary from United States, from articles in English (10 articles) [compare]
  • Summary from Canada, from articles in English (1 articles) [compare]

  • Event tracking:
  • Track this story's development in time

  • Story keywords
    Oil, Prices, Saudi, Arabia, barrels

    Source articles
    1. Oil Industry Desperate for Black Gold Rush (ABCNews, 06/16/2008, 682 words)
    2. Oil (Petroleum) and Gasoline (topics.nytimes.com, 06/16/2008, 187 words)
    3. Oil reaches record, retreats on Saudi vow (boston.com, 06/17/2008, 469 words)
    4. Crude oil price hits new trading record, then reverses on worries (cbc.ca, 06/16/2008, 667 words)
    5. Plan Would Lift Saudi Oil Output (nytimes.com, 06/14/2008, 955 words)
    6. Saudi oil output to rise in July (BBC News, 06/15/2008, 275 words)
    7. Oil at record near $140 a barrel (BBC News, 06/16/2008, 384 words)
    8. Oil hits new high of nearly $140 a barrel (ft.com, 06/16/2008, 384 words)
    9. Gas prices break new record; Chicago hits $4 :: CHICAGO SUN-TIMES :: Nation (suntimes.com, 06/16/2008, 547 words)
    10. THE CRUDE TRUTH, CHUCK: US NEEDS MORE DRILLING (NY Post, 06/16/2008, 649 words)
    11. Chicago Sun-Times :: Archive :: (suntimes.com, 06/16/2008, 2627 words)
    12. Shoppers pay as oil costs trickle down (dallasnews.com, 06/16/2008, 850 words)
    13. Gas costs are reflected in nearly everything you buy (dallasnews.com, 06/16/2008, 1267 words)




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