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Oil prices spike to record above $117

Oil prices spiked to a record above $117 a barrel on Monday after a Japanese oil tanker was attacked off the east coast of Yemen, according to the Associated Press.

The 150,000-ton tanker Takayama was attacked about 270 miles off the Yemen coast in the Gulf of Aden while it was heading for Saudi Arabia, its Japanese operator, Nippon Yusen K.K., said in a statement posted on its Web site.

Posted by Peter C. T. Elsworth  at 10:10 AM to Crude oil market | Permalink

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