Oil prices soar on mixed fears

WORLD oil prices surged this week after a hurricane closed three Texan oil refineries, a sharp drop in United States inventories, and oil traders dismissed OPEC’s plan to slightly raise output.

Oil prices soar on mixed fears Oil prices soar on mixed fears Oil prices soar on mixed fears Oil prices soar on mixed fears Oil prices soar on mixed fears

In New York, a barrel of West Texas Intermediate crude hit an intra-day high above $80 a barrel on Wednesday, while Singapore’s Tapis price continued climbing throughout the week to settle at $US83.

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