Korea:US$2.20 Dubai Crude Price Hike Highest Ever

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US$2.20 Dubai Crude Price Hike Highest Ever

After hovering around the US$29-US$30 mark per barrel throughout the week, international prices for crude oil went up again Friday. The Korean Petroleum Corp. (KPC) said Saturday that the price of Dubai crude, which is Korea!/s primary oil import, rose to US$31.27 per barrel for October delivery on major global markets that day, the highest level since the Gulf War. The US$2.20 increase from the previous day!/s US$29.50 price is the highest daily increase ever for Dubai crude. North Sea Brent crude also increased in price by US$1.72 to US$34.30 for November delivery. The price of West Texas Intermediate rose US$1.77 to trade at US$35.92.

http://www.chosun.com/w21data/html/news/200009/200009160195.html

-- Martin Thompson (mthom1927@aol.com), September 17, 2000


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