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Crude rises on Iran missile tests
Summary from multiple countries, from articles in English
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Oil spiked to a new trading record as hostilities rise between the West and Iran - raising the likelihood that this winter's heating bills will be the priciest yet. (article 1)
Iran, the second-largest producing country in OPEC after Saudi Arabia, produces about 4 million barrels of oil a day out of the daily worldwide production of close to 87 million barrels. (article 2)
In recent weeks, the price of oil has risen higher on speculation that Israel could be preparing an attack on the country's nuclear facilities. (article 2)
Market experts put the increase down to concerns about Opec member Iran's recent missile tests, concerns about global supplies and the weak dollar. (article 3)
On Thursday, oil prices surged by almost $6 on the back of worries about missle tests by Iran - the second largest member of oil producing cartel Opec. (article 3)
In London, Brent crude rose by over $2 to $138.50 a barrel, while US light, sweet crude rose by the same amount to $138.12 a barrel. (article 4)
Oil prices had fallen sharply on Tuesday on the assumption that a global economic slowdown would lower demand for oil. (article 4)
Geopolitical risks were heightened further after three policemen and three gunmen were killed in an attack on the US consulate in Istanbul. (article 4)
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Other summaries about this story:
Other stories about Iran, Missile and Iranian:
Event tracking:
Story keywords
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Iran, Missile, Iranian, Israel, Nuclear |
Source articles
- Oil sets new trading record above $147 a barrel (seattletimes.nwsource.com, 07/11/2008, 684 words)
- OPEC warns against Iran conflict (boston.com, 07/11/2008, 310 words)
- Oil hits new high on Iran fears (BBC News, 07/11/2008, 237 words)
- Crude rises on Iran missile tests (BBC News, 07/09/2008, 223 words)
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blaster@cs.columbia.edu
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