November crude has soared US$7.35 a barrel, or nearly nine percent in only a week.
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Oil Surged to $88 on Turkish-Kurdish Conflict
Oil futures have briefly shot past US$88 a barrel Tuesday for the first time
Crude oil futures have briefly soared past US$88 a barrel Tuesday, as mounting concerns over a possible Turkish attack on Kurdish rebels in northern Iraq and tight U.S. crude supplies kept strong upward pressure on energy prices.
The benchmark light, sweet crude contract for November delivery hit an all-time session high of $88.20 a barrel on the New York Mercantile Exchange, although the advance was pulled back to end the day at US $87.61 a barrel.
November crude has soared US$7.35 a barrel, or nearly nine percent in only a week.
November crude has soared US$7.35 a barrel, or nearly nine percent in only a week.
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