Oil Soars Above $100 as Iran War Forces More Production Cuts [Yahoo! Finance Canada]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Yahoo! Finance Canada
cut output, though talks on a co-ordinated release of reserves took some heat out of the market wracked by the war in the Middle East. Brent was 15% higher at around $106 a barrel, but much lower than the session peak of $119.50. West Texas Intermediate was near $102. The Group of Seven finance ministers will discuss a possible joint release of oil from reserves on Monday, according to people familiar with the matter. The Financial Times said any action will be co-ordinated with the International Energy Agency. Most Read from Bloomberg The war in the Middle East is showing no signs of abating after US and Israeli strikes on Iran more than a week ago, and the fallout is stoking fears of an inflation crisis. The halt to shipping through Hormuz — a narrow waterway that normally handles a fifth of the world's oil — along with attacks on key energy infrastructure have driven up prices of crude and natural gas. Oil prices surged on Monday after Kuwait and the United Arab Emirates st
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