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Article: Dispute has oil prices at 10-year high.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- September 15, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS _ Oil prices reached their highest level since the Persian Gulf War, and the countries involved in the start of that conflict are being blamed for the latest run-up in prices.
A barrel of crude oil briefly hit $36 before ending up at $35.92 on the New York Mercantile Exchange futures market Friday, up $1.85 from Thursday's close. Friday's price marked the high point since oil closed at $36.80 on Oct. 18, 1990, two and a half months after Iraq invaded neighboring Kuwait.
The latest jump in prices was blamed on new tensions between the two nations, as Iraq accused Kuwait of stealing oil reserves along their common border.
"The rulers of ...