Pumped Back Up
Oil prices' roller-coaster ride isn't over. The U.N. Security Council's offer to allow limited oil sales by Iraq sent crude prices tumbling 5% on Apr. 13. But contracts spurted back up on Apr. 18, after Saddam Hussein snubbed the plan. More upside could be in store. With oil prices denominated in weak dollars, demand in Europe and Asia has been surging. Plus, the Clinton Administration's tough line on Iran already is causing big buyers, such as Exxon and Mobil, to scramble for supplies elsewhere.
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