World oil prices jumped to all-time highs Thursday after US-led forces made an attack on Najaf
World oil prices jumped to all-time highs Thursday after US-led forces made an attack on Najaf, the holy city of Iraq, what again strengthened crude supply fears.
New York light sweet crude for September delivery surged 70 cents to finish at the absolute record $45.50 a barrel. During the trade, it climbed to $45.75.
London's Brent North Sea September contract soared 72 cents to a record finish of $42.29. It hit an all-time high of $42.56.
Traders were focused on probable supply troubles in Iraq, where the oil infrastructure has been threatened by insurgents, and in Russia, where oil giant Yukos faces a multibillion dollar back-tax bill.
