Oil Prices Hit Highest Point In Nearly Two Years

Friday, August 13, 1999
Oil prices rallied to a 22-month peak of $21 a barrel on Friday, buoyed by Nigerian supply disruption, declines in U.S. oil stockpiles and OPEC output restraint. London September futures for Britain's Brent crude touched the psychological $21 level, its highest since October 9, 1997, before dropping back to $20.88 for a 39 cent gain.
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