This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7052071.stm
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Oil prices touch above $90 level | Oil prices touch above $90 level |
| (about 2 hours later) | |
| Oil prices have broken through $90 a barrel for the first time, lifted by the low dollar and ongoing concerns over tensions in eastern Turkey. | Oil prices have broken through $90 a barrel for the first time, lifted by the low dollar and ongoing concerns over tensions in eastern Turkey. |
| US light crude rose to $90.02 in late Thursday trading in New York, before pulling back to $89.39 in early Friday trade in Europe. | |
| Meanwhile, London's Brent had fallen back 30 cents to $84.30 from its overnight close of $84.60. | |
| The weak dollar has made oil a more attractive investment. | The weak dollar has made oil a more attractive investment. |
| The greenback remains near record lows against the euro, and a three-week low against the yen, not helped by weak US jobs and manufacturing data on Thursday. | The greenback remains near record lows against the euro, and a three-week low against the yen, not helped by weak US jobs and manufacturing data on Thursday. |
| This has increased expectations that the Federal Reserve will cut US interest rates further from the current 4.75% later this month. | This has increased expectations that the Federal Reserve will cut US interest rates further from the current 4.75% later this month. |
| Turkish concern | Turkish concern |
| The tension in eastern Turkey centres on possible military action by the Turkish army against Kurdish rebels operating from across the Iraqi border. | The tension in eastern Turkey centres on possible military action by the Turkish army against Kurdish rebels operating from across the Iraqi border. |
| Earlier this week the Turkish parliament approved a government plan to carry out excursions across the border, though imminent military action is not expected. | Earlier this week the Turkish parliament approved a government plan to carry out excursions across the border, though imminent military action is not expected. |
| Oil producers' cartel Opec has hinted that it may boost output to help reduce prices. | Oil producers' cartel Opec has hinted that it may boost output to help reduce prices. |
| Nigerian oil minister Odein Ajumogobia said Opec leaders could now meet as early as 17 November, three weeks ahead of their next planned meeting. | Nigerian oil minister Odein Ajumogobia said Opec leaders could now meet as early as 17 November, three weeks ahead of their next planned meeting. |
| Oil prices have quadrupled since 2002 because of strong demand from fast-growing economies such as China and India, allied to instability in oil-producing nations in the Middle East and Africa. | Oil prices have quadrupled since 2002 because of strong demand from fast-growing economies such as China and India, allied to instability in oil-producing nations in the Middle East and Africa. |