Business | Oil & Gas

Oil prices soar above $115

Oil prices soared to an all-time high above $115 a barrel amid concerns over sagging US gasoline supplies.

  • Agencies
  • Published: 12:20 April 17, 2008
  • Gulf News

Singapore: Oil prices soared to an all-time high above $115 a barrel amid concerns over sagging US gasoline supplies.

Light, sweet crude for May delivery rose as high as $115.21 a barrel Thursday in electronic trading on the New York Mercantile Exchange. It eased back to $114.82 a barrel, mid-afternoon in Singapore.

That is 11 cents lower than the overnight settlement record of US$114.93 a barrel.

The surge in oil prices reflected concerns about how much gasoline will be available during America's driving season.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. Heavy vehicles queue at Adnoc

    Heavy vehicles queue up at Adnoc stations

More from Oil & Gas

  1. Arbitration panel to settle Crescent-NIOC gas row

  2. Yemen sends its first LNG shipment

  3. ABB signs deal for Abu Dhabi crude pipeline

  4. Dubai Mercantile Exchange seeks more oil producers

All articles in Oil & Gas

More from Business

Gulf News
Popular in Business
Precious jump
General

Precious jump

Gold prices at new high as India's central bank buys $6.7b worth of gold

Business Editor's choice