Friday, December 28, 2007

Bhutto assassination hits oil markets

Oil prices rose on dual concerns of larger than expected declines in U.S. crude inventories and growing geopolitical concerns after the assassination of Pakistani opposition leader Benazir Bhutto. Light, sweet crude for February delivery shot up to US$96.83 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. In London, Brent crude rose 33 cents to $95.11 a barrel on the ICE Futures exchange.

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