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| November 01, 2007 | Thursday | Shawwal 19, 1428 |
Oil jumps 4pc to record high
NEW YORK, Oct 31: Oil surged more than 4 per cent to a record over $94 a barrel on Wednesday after a steep drop in US inventories fuelled winter supply concerns and the US Federal Reserve cut interest rates.
US oil jumped $4 to $94.38 a barrel by 1850 GMT after striking a record $94.74 earlier, countering a $4 drop on Tuesday. London Brent gained $3.02 to $90.46 a barrel.—Reuters
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