London bombings, storms push prices to new levels

OIL climbed to a new US$62-per-barrel peak this week then fell as dealers calculated the likely global economic fall-out from Thursdays terrorist attacks on London would be limited.

08 July 2005
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Crude had traded as high at US$62.10 on the New York Mercantile Exchange on Thursday after initial news of the terrorist attacks. But NYME oil later fell to an intraday low of US$57.

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