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Supply fears push crude to two-month high

WORLD crude oil prices advanced above $US67 per barrel Thursday to hit a two-month high amid worries of supply, following falling gasoline supplies in the United States and Iran’s rejection of a UN Security Council statement. Meanwhile, Santos said yesterday that oil prices were likely to remain high in the medium term as supplies from traditional sources slowed.

Steve Rotherham
Supply fears push crude to two-month high

Santos managing director John Ellice-Flint said demand for crude oil was continuing to run high while supply would still struggle. “There are a number of market indicators that suggest oil prices could...

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