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Supply Concerns Propel Oil to New Record

NEW YORK (AP) -- Oil futures rallied to a new record over $88 a barrel Tuesday on concerns about disruptions to Middle Eastern crude supplies and a growing view that domestic supplies aren't sufficient to meet fourth-quarter demand, according to the Associated Press.

Traders are concerned that a Turkish incursion into Iraq in search of Kurdish rebels could disrupt crude supplies from northern Iraq.

Posted by Peter C. T. Elsworth  at 3:34 PM to Crude oil market | Permalink

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