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Article: Iraqi war talk will keep oil prices high, analysts say.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- August 21, 2002
- Author:
CopyrightCOPYRIGHT 2002 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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Increased talk of a conflict between the United States and Iraq has caused oil traders to worry about potential supply disruptions from the Middle East, sending crude prices up sharply this week.
Traders have added a "war premium" of up to $8 per barrel amid the recent war discussions by the Bush administration, said John Kilduff, energy analyst and senior vice president at Fimat USA Inc.
"Prior to the most recent attention on this, we were forecasting an attack as early as February," Kilduff said. "Given the latest round of statements, there had been talk of hostilities as early as October.
"If the administration could calm down the news cycle ...