Is the Middle East ready for $100 oil?
- Published: 13 November 2007 20:29
- Author:Richard Thompson | More by this Author
- Last Updated: 22 November 2007 09:43
At the start of the year, oil prices were not expected to rise above $60 a barrel. On 16 October, Brent crude hit $84. With tension mounting over Ankara's plans to pursue Kurdish guerrillas inside Iraq, as well as the seemingly intractable dispute over Tehran's nuclear programme, oil prices are unlikely to fall significantly any time soon.
At the start of the year, oil prices were not expected to rise above $60 a barrel. On 16 October, Brent crude hit $84. With tension mounting over Ankara's plans to pursue Kurdish guerrillas inside Iraq, as well as the seemingly intractable dispute over Tehran's nuclear programme, oil prices are unlikely to fall significantly any time soon.
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