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News Analysis: Global oil prices surge to top agenda of G-8 summit
- Article from:
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Xinhua News Agency
- Article date:
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July 6, 2008
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Copyright informationCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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News Analysis: Global oil prices surge to top agenda of G-8
summit
BEIJING, July 6 (Xinhua) -- Crude futures edged up to a record
high above 145 U.S. dollars a barrel in New York Thursday, three
days ahead of the Group of Eight (G-8) summit at which the issues of
accelerating inflation and the slowing global economy are expected
to grab the spotlight.
Light, sweet crude for August delivery rose 1.72 dollars to hit a
new record of 145.29 dollars a barrel on the New York Mercantile
Exchange. In early morning electronic trading, oil hit an all-time
peak of 145.85 dollars a barrel.
The rally was believed to have been driven by a reported bigger-
than-expected drop in U.S. crude stockpiles and ...