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Lebanon crisis to push oil prices
- Saudi Arabia: Monday, July 17 - 2006 at 08:29
The conflict between Lebanon and Israel has pushed oil prices towards to $80 a barrel, but experts believe an escalation of the crisis could push prices above $100, reported the KUNA. Some analysts believe a dramatic hike could occur if other countries become involved in the conflict and oil becomes a bargaining chip. The new crisis adds to other regional political tensions and high demand for oil from China.
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Jonathan Sheikh-Miller, Deputy EditorMonday, July 17 - 2006 at 08:29 UAE local time (GMT+4)
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