4-26-2004 Iraq oil prices feel squeeze after port attack
The suicide boat attacks on Iraq's main oil export terminal at the weekend added to pressure on oil prices on Monday, increasing concern about future supplies from Iraq at a time when its oil exports have nearly reached pre-war levels.
The attacks, which killed three US sailors and stopped oil shipments from the terminal for more than a day, raised anxieties for the US-led administration in Iraq and for world oil markets.
A successful attack on the oil export infrastructure would dry up the country's export earnings, which are essential for paying for reconstruction, and drive global oil prices up sharply
The suicide boat attacks on Iraq's main oil export terminal at the weekend added to pressure on oil prices on Monday, increasing concern about future supplies from Iraq at a time when its oil exports have nearly reached pre-war levels.
The attacks, which killed three US sailors and stopped oil shipments from the terminal for more than a day, raised anxieties for the US-led administration in Iraq and for world oil markets.
A successful attack on the oil export infrastructure would dry up the country's export earnings, which are essential for paying for reconstruction, and drive global oil prices up sharply
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