Thursday, July 13, 2006

Crude Oil Surges above $78 as Middle East Violence Escalates

Crude oil rose above $78 a barrel in New York for the first time as escalating violence in the Middle East and disruptions in Nigeria threatened global supplies... Hezbollah militants fired rockets from Lebanon into Israel's third-biggest city after Israeli forces bombed Beirut international airport and other targets. A Nigerian newspaper yesterday reported that rebels had attacked pipelines, later denied by the owner of the facility, Italy's Eni SpA.
Read this story at Bloomberg.com

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