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Oil closes at record 138.54 dollars in New York trade
NEW YORK
Petroleumworld.com, June 06, 2008Crude oil surged to a record close of 138.54 dollars in New York trade, gaining more than 10 dollars in its biggest one-day jump ever after smashing a series of price hurdles.
New York's main oil futures contract, light sweet crude for July delivery, leapt 10.75 dollars from Thursday's close.
In London, Brent North Sea crude for July crossed 138 dollars for the first time and hit 138.12 dollars a barrel. It eased back to 137.93 dollars, up 10.39 dollars, shortly before the market closed.
Analysts said the sharp price spike was a reaction to remarks by an Israeli deputy prime minister warning Iran would face attack if it pursues what he said was its nuclear weapons program.
"If Iran continues its nuclear weapons program, we will attack it," said Shaul Mofaz, who is also transportation minister.
Story from AFP
AFP 06 1907 GMT 06 08Copyright© 2008 respective author or news agency. All rights reserved.
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