Published Date:
06 January 2009
OIL prices headed north yesterday as Israel's deepening incursion into Gaza and the Russian gas dispute heightened geopolitical supply fears.
US crude gained over a dollar to $47.38 a barrel after touching three-week highs of $48.68. London Brent rose $1.22 to $48.13 a barrel.
Oil prices have risen from about $35 a barrel since Israel launched its Gaza offensive on 27 December, heightening fears for crude supplies from the Middle East.
An Iranian military commander called for producers to cut supplies to Israel's supporters in Europe and the US.
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Last Updated:
05 January 2009 8:26 PM
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Source:
The Scotsman
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Location:
Edinburgh
