Oil price above 76 dollars in New York

The price of New York oil jumped above 76 dollars a barrel on Thursday, with some analysts warning that prices could be heading to new highs.

…”I think oil prices are going to retest recent record highs,” Bank of Ireland analyst Paul Harris said Thursday.


New York crude struck a record high of 78.77 dollars at the beginning of August.

“You’ve got (US) stock figures out this afternoon which are going to show stocks fell further and reports from independent weather forecasters that they think the hurricane season will intensify,” added Harris.

AFP