London?s Brent crude, the UK North Sea blend, reached a record of $51.90 amid fears in the market of a supply breakdown, but it too fell back to $50.72, down 50 cents, after Norwegian politicians? statement.
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Norway's Oil Fever Shakes Prices
Crude prices yesterday hit a fresh record high
Crude prices yesterday hit a fresh record high at $55.67 a barrel after Norwegian employers threatened to halt the output in protest over a strike by offshore oil workers.
However, then US light sweet crude fell to $54.50 ( - 67 cents) as the Norwegian government declared it would encourage the two sides to seek arbitration to break their deadlock.
London?s Brent crude, the UK North Sea blend, reached a record of $51.90 amid fears in the market of a supply breakdown, but it too fell back to $50.72, down 50 cents, after Norwegian politicians? statement.
London?s Brent crude, the UK North Sea blend, reached a record of $51.90 amid fears in the market of a supply breakdown, but it too fell back to $50.72, down 50 cents, after Norwegian politicians? statement.
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