Oil rises over the concerns of conflicts in Georgia
Oil rises over the concerns of conflicts in Georgia
The oil prices in New York market rose to $117 a barrel over the concerns of Russian attacks on Georgia. The latest development in the region is the deal signed between U.S. and Poland to allow installation of missile-defense system in the country and the deal is also seen a step towards rising risks of war in the region.
The market reacted to the strong opposition of Russia over the U.S. deal and the crude oil market feared disruption in oil supply.
More: Business News
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