NEW YORK — Crude futures rose today - but retreated from an earlier all-time high above $92 - as investors sold to lock in profits from the latest multi-day record-setting rally.
Light, sweet crude for December delivery rose 81 cents to $91.27 a barrel on the New York Mercantile Exchange after rising as high as $92.22, a new trading record, overnight. Crude prices jumped $3.36 a barrel on Thursday.
Prices were supported by worries over political tensions in the Middle East, where the U.S. imposed sanctions on Thursday on Iran and Turkish troops remained massed at the Iraq board to counter Kurdish rebels. In addition, the market was unsettled a dawn attack on an oil vessel off the coast of Nigeria by anti-government militants.
Suggestions that OPEC oil shipments are not rising as quickly as expected added to supply worries.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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