Oil climbs to $142 a barrel in Asia

Courtesy Topix - Business News  Tue, 07/01/2008 - 10:21

Oil prices climbed to $142 a barrel Tuesday amid concerns about tensions between Iran and Israel and a weakening dollar.

'You have supply-side concerns, such as the rhetoric on Iran, that will likely keep a floor under prices,' said Victor Shum, an analyst with Purvin & Gertz in Singapore.

'I don't see much resistance to $150, which could happen in the coming weeks.'

Late afternoon in Singapore, light, sweet crude for August delivery was up $2.00 at $142.00...

Tags:

 

Related items

Oil jumps above $116 on Russian-Georgia conflict
Oil prices rebounded Monday in Asia to above $116 a barrel on concerns a widening conflict between Russia and Georgia over a breakaway province could...

US stocks head for mixed open as oil tops $143
Stocks headed for a narrowly mixed open Monday as oil prices set a new trading record and investors awaited a regional manufacturing reading for...

Oil closes below $135 after OPEC questions prices
Oil prices pulled back Friday after OPEC questioned whether crude can remain so high and the dollar gained against the euro.Meanwhile, U.S. filling...

Oil Falls After Overnight Fed Cut
"Despite the strong rebound from the lows, we are not yet out of negative momentum" Oil futures were lower Wednesday, extending overnight declines...

Oil Prices Rise on Expected Fed Rate Cut
"Today all eyes will be on the Fed but with a 25-basis-point cut already priced in, it will take a surprise to move (Nymex oil) out of its current...


 

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
We apologize for the inconvenience. Please help fight spam.
business.marc8.com