Thursday, June 26, 2008
Stil no end in site for oils rise.
June 26 (Bloomberg) -- Crude oil jumped above $140 a barrel to a record as Libya threatened to cut production, OPEC's president said prices may reach $170 by the summer and the dollar weakened. Libya may curb output because of a U.S. law that allows terror victims to seize assets of foreign governments as compensation. OPEC President Chakib Khelil said oil may surge on a European interest rate rise, France 24 reported. Oil, gold and copper climbed today as the dollar dropped because the Federal Reserve gave no signal of higher interest rates yesterday.