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Oil Prices Ease - ASHARQ AL-AWSAT English Archive
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Sydney-Oil and gasoline prices eased on Friday as the U.S. government scrambled to avert a fuel shortage, but markets remained near peaks as the damage from Hurricane Katrina”s rampage through the U.S. Gulf coast could take months to repair, according to a report of Reuters.

In electronic trade on Friday, crude oil prices on the New York Mercantile Exchange (NYMEX) retreated 29 cents, or 0.42 percent, to stand at $68.18 a barrel, having hit a record high of $70.85 on Tuesday, one day after Katrina hit the coast.

London Brent crude was down 24 cents to $67.48 a barrel.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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