Oil prices risk new rises on supply shocks, analysts warn

LONDON - World oil prices, which have plunged from recent record heights, could spike higher again should the market be rocked by new supply-side shocks, according to industry experts.

By (AFP)

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Published: Sun 10 Aug 2008, 3:17 PM

Last updated: Sun 5 Apr 2015, 11:51 AM

Prices sank lower last week on mounting concern that slower economic growth in the United States would translate into lower global energy demand.

The price of crude oil on international markets has shed about 20 percent in value since hitting record highs above 147 dollars per barrel in July.

Standard Chartered analyst Helen Henton said investors could send oil surging higher once more amid volatile trading conditions -- and ongoing supply threats such as the Iranian nuclear energy crisis.

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