Lovely. Glad I filled up this morning.
Quote, originally posted by AP » US Ship Fires On Iranian Boats, Oil Prices Rise
NEW YORK — Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two Iranian boats. Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon.
Word that a U.S. ship had fired on the boats in the Persian Gulf raised concerns that a conflict between U.S. and Iranian forces could cut oil supplies from the region. Light, sweet crude for June delivery jumped as high as $119.50 on the news before retreating to trade up $2.70 at $118.76 a barrel on the New York Mercantile Exchange.
Prices were already up before the report on news of a pipeline attack in Nigeria and a looming refinery strike in Scotland.