Terror worries push oil price towards $64

Warnings of a possible terrorist attack in Saudi Arabia and worries over Iran’s resumption of its nuclear programme helped push crude prices to nominal records, with analysts saying the price could soon breach $65 a barrel.

..Meanwhile, a sequence of accidents and lack of spare capacity mean refineries could face difficulties meeting global oil demand this winter. The International Energy Agency, the industrial countries’ energy watchdog, has forecast that oil consumption will reach 85.9m barrels a day in the fourth quarter, up from 83.7m b/d today.

Financial Times