Oil prices at new high on fears of Turkish attack in Iraq
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Crude oil rose to an all-time high during trading in Asia to close at US$86.13 a barrel, up $2.44. The price of Brent Crude futures was at $84.40 at 6:39 a.m.. Crude stock futures at 6:08 a.m. (eastern time in the United States were trading at $87.52, nearing $90.00 a barrel. The spike is being blamed on fears that Turkey is going to attack Iraqi Kurdish Militants of the Kurdistan Workers Party (PKK) after they killed 13 Turkish soldiers on October 7. On Monday, the Turkish military asked Parliament for permission to lead a mission into Iraq t
Crude oil rose to an all-time high during trading in Asia to close at US$86.13 a barrel, up $2.44. The price of Brent Crude futures was at $84.40 at 6:39 a.m.. Crude stock futures at 6:08 a.m. (eastern time in the United States were trading at $87.52, nearing $90.00 a barrel.
The spike is being blamed on fears that Turkey is going to attack Iraqi Kurdish Militants of the Kurdistan Workers Party (PKK) after they killed 13 Turkish soldiers on October 7. On Monday, the Turkish military asked Parliament for permission to lead a mission into Iraq to hunt down militants.
There are at least 60,000 Turkish troops along the Iraq-Turkey border.
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Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 16 Oct 2007, 05:30 am IST
