Oil Prices Hit New Peak

World | September 28, 2004, Tuesday // 00:00

The price of crude oil has topped USD 50 a barrel - the highest level recorded in the 21-year history of crude futures on the New York Mercantile Exchange. Experts attribute the price jump to Nigerian rebels. They warned oil companies to shut down production in the Niger delta before they declare an all-out-war on October 1. The delta pumps all of Nigeria's 2.3 million barrels per day.

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