The New York Times: Commodities: "Saudi Promise of More Oil Fails to Stop Rise in Prices
By HEATHER TIMMONS
Published: May 25, 2004
AMSTERDAM, May 24 - Shrugging off Saudi Arabia's promises to step up oil production, investors and traders pushed oil and gasoline prices to new highs on Monday.
Crude oil for July delivery closed at $41.72 a barrel on the New York Mercantile Exchange, a 4.5 percent increase from Friday's close. Gasoline for June delivery rose 2.9 percent. Both were records for the exchange, which has traded the futures contracts since the early 1980's"
posted by Richard at
Tuesday, May 25, 2004
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