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Oil at two year peak
- United Arab Emirates: Monday, December 30 - 2002 at 13:33
Oil prices are at a two-year high, over USD33 a barrel, as traders bet on a possible military attack on Iraq early next year, and Venezuelan oil supplies remained choked by a 29-day strike. Front-month February light crude futures on the New York Mercantile Exchange jumped 1.4 percent in off-hours electronic trading to USD33.17 a barrel, marking a 45-cent gain from Friday's close and the highest since December 1, 2000.
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Peter J. CooperMonday, December 30 - 2002 at 13:33 UAE local time (GMT+4)
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This article was updated on Wed Nov 01 2006.
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