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Article: Iraq news pushes oil prices to 26-month high.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- February 7, 2003
- Author:
CopyrightCOPYRIGHT 2003 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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Byline: Sudeep Reddy
Crude oil prices climbed above $35 a barrel Friday on fears of an impending war with Iraq, and analysts expect prices to continue shooting higher as a military conflict approaches.
"These are the early tremors before the energy quake that's coming," said Peyton Feltus, president of Randolph Risk Management in Dallas.
Traders have been pushing oil prices higher since the Bush administration increased its public pressure on Iraq last summer. Prices are expected to continue their upward trend into the early days of war, at least until the security of Middle East exports is assured.
"Everybody is playing a guessing ...