The Car and Truck Fleet and Leasing Management Magazine

Oil Price Inches Up to Nearly $100 Again

February 25, 2008

NEW YORK --- Oil prices once again drifted up near $100 a barrel today, spurred by supply concerns associated with Turkish military actions in northern Iraq as well as increased tensions between Iran and the West over Iran's nuclear program.

Light, sweet crude for April delivery climbed 23 cents to reach $99.04 a barrel on the New York Mercantile Exchange by mid-afternoon in Europe, the AP reported. Earlier, the price had risen as high as $99.70 a barrel in electronic trading.

In London, Brent crude climbed 6 cents to reach $97.07 a barrel on the ICE Futures exchange.



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