Oil futures set yet another new high this morning, trading above $92 for the first time in New York, as traders weighed new U.S. sanctions against Iran and increasing tensions between Turkey and Iraq. “When you’re talking Iran and Iraq, two of the biggest holders of oil reserves, no wonder markets are nervous,” said analyst Gavin Wendt at Fat Profets in Sydney. (Bloomberg)
The Bottom Line
October 26, 2007
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