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Oil prices at new high on fears of Turkish attack in Iraq

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Tuesday, October 16, 2007

Crude oil rose to an all-time high during trading in Asia to close at US$86.13 a barrel, up $2.44. The price of Brent Crude futures was at $84.40 at 6:39 a.m.. Crude stock futures at 6:08 a.m. (eastern time in the United States were trading at $87.52, nearing $90.00 a barrel.

The spike is being blamed on fears that Turkey is going to attack Iraqi Kurdish Militants of the Kurdistan Workers Party (PKK) after they killed 13 Turkish soldiers on October 7. On Monday, the Turkish military asked Parliament for permission to lead a mission into Iraq to hunt down militants.

There are at least 60,000 Turkish troops along the Iraq-Turkey border.


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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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