Crude oil prices surged again after new security concerns and a tightening of supplies in the US
Crude oil prices surged again after new security concerns and a tightening of supplies in the US.
Oil futures reached their highest level since June 1 at NYMEX, the August contract jumped $1.53 to $ 40.97 per barrel. Futures for August deliveries had soared as high as $41.05 per barrel before the close.
In London, the August delivery price for Brent crude rocketed 1.85 to 38.54 a barrel.
Government data Wednesday showed US crude oil stocks fell 2.1 million barrels to 302.9 million and gasoline stocks dropped 200,000 barrels to 205.9 million in the week to July 9.
A parallel survey by the American Petroleum Institute found crude oil stocks fell 5.1 million barrels to 300.1 million but gasoline rose 4.4 million barrels to 208.7 million.
