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'Tis the season to be jolly careful with oil |
| Home | (The Age) - MOUNTING tensions over Iran's nuclear program, North Korea's missile testing and the onset of the hurricane season in the Gulf of Mexico may propel oil prices up to $US90 a barrel before the end of the year. Crude oil for August delivery soared to a record $US75.40 a barrel on the New York Mercantile Exchange on Thursday before easing to $US75.19, fuelling fears that geopolitical tensions may combine with seasonal causes to push it higher. |