HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
September 2007

Vol. 12, No. 38 Week of September 23, 2007

Alaska crude sets record above $81

The price of crude oil from Alaska’s North Slope set a new record high Sept. 18, closing at $81.01 a barrel.

It gained almost $1 in trading from Sept. 17, which set a previous high at $80.07.

The Sept. 17 jump came in anticipation of the Federal Reserve’s decision on interest rates Sept. 18, and the government’s report on crude oil and gasoline inventories.

The Fed on Sept. 18 cut interest rates by a half point, which could have a double impact on oil prices, analysts say. By stimulating economic growth, lower interest rates would increase demand for oil and petroleum products.

The price of North Slope crude, delivered to West Coast refineries, is still well below inflation-adjusted highs of about $100 a barrel in the early 1980s.

—The Associated Press





Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistrubuted.

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.