LONDON, Feb 7: World oil prices on Friday bolted up to new highs not seen in over two years after US President George W. Bush stoked war fears by warning Iraqi leader Saddam Hussein “the game is over”.
The price of reference Brent North Sea crude oil for March delivery rose to 31.95 dollars a barrel in late trading here from 31.44 at the close of the previous session, leaving prices at the highest level since late 2000.
In New York, the benchmark light sweet crude March contract rose 47 cents to 34.16
dollars a barrel in early deals, levels not seen since November 2000.
“The market has focused on Bush’s comment that ‘the game is over’,” said GNI-Man Financial analyst Lawrence Eagles.—AFP
