RAY

In January, it was about US$100. Now, it is at US$130. Scary or not?

The Star, 22 May 2008
Crude oil hits US$130 on fears of supply disruption

PETALING JAYA: Crude oil prices hit a fresh high of US$130 a barrel yesterday on worries over a potential supply disruption and analysts’ expectation that the uptrend would continue.

Analysts said the volatility in crude prices had adversely affected the bottom lines of companies involved in land transportation, aviation, food and beverage, and shipping.

Since the start of the year, the US light crude has risen about 30% to over US$129 a barrel and, in London, the Brent is up about 29% to US$129.

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