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08/09/2005:
"Terror fears push oil prices to 22-year high"
The price of oil rose to its highest level for more than 22 years after warnings of imminent terror attacks against Westerners in Saudi Arabia....The oil market is particularly sensitive to bad news from Saudi Arabia, the world's largest supplier of the commodity, hence the reaction to yesterday's warning. The Foreign Office says there were "credible reports" that terrorists were in the "final stages" of planning attacks against Westerners in Saudi Arabia.
...News that Opec's second-largest producer, Iran, had resumed its nuclear work, despite warnings from the European Union of possible United Nations sanctions, also weighed on markets yesterday.
Full: independent.co.uk
Ah yes the sensitive and civic-minded oil giants. looking out for the welfare of us all...
