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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil prices reach 18-month high

Posted on 28 August 2013

Crude oil prices jumped nearly 3 percent to an 18-month high on Tuesday, capping an increase of about 20 percent over the past two months as a result of scattered supply disruptions and rising anxiety about war and political instability in the Middle East.
The growing likelihood of a U.S.-led military response to reports of Syrian use of chemical weapons rattled markets, analysts said. The price of the U.S. benchmark crude oil, West Texas Intermediate, on the New York Mercantile Exchange closed at $109.01 a barrel for October delivery, up $3.09 from the day before and up from less than $95 in late June………………………………………..Full Article: Source


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