Global Tensions Threaten to Drive Oil Price Beyond $US80

Sydney Morning Herald – MOUNTING tensions over Iran’s nuclear program, North Korea’s missile testing and the onset of the hurricane season in the Gulf of Mexico may propel oil prices to an unprecedented $US90 a barrel before the end of the year.

Crude oil for August delivery soared to a record $US75.40 on the New York Mercantile Exchange on Thursday before easing back to $US75.19, fuelling fears that geopolitical tensions would combine with seasonal causes to push it higher.
Sydney Morning Herald