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LONDON, July 28: Oil prices soared to the highest level for almost 14 years here on Wednesday as traders fretted over a financial crisis at Russian oil giant Yukos.
The price of Brent North Sea crude oil for September delivery surged to as high as $39.60 a barrel, the highest level since October 1990.
It later eased back somewhat to $39.35, up 81 cents from the previous close. In New York, the price of light sweet crude for delivery in September shot up $1.21 to an all-time high of $43.05 a barrel in early trading.
