Worldwide unrest drives up gas costs.Byline: From Register-Guard and news service reports Gasoline prices in Lane County and nationwide continued to hover near records amid uncertainty about the outcome of the U.S.-led invasion of Iraq. In the Eugene-Springfield area, a gallon of regular unleaded rose a fraction of a penny to $1.90 on Monday, close to the record of $1.905 set on March 18, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. . In London, crude oil prices surged Monday on market fears that the war in Iraq might take longer than some had anticipated and because of a disruption of supplies from Nigeria. Stiffening stiff·en tr. & intr.v. stiff·ened, stiff·en·ing, stiff·ens To make or become stiff or stiffer. stiff resistance to the U.S.-led attack has undercut hopes for a brief war and an early rehabilitation rehabilitation: see physical therapy. of that country's oil industry. Iraq pumped 2.5 million barrels a day before fighting began and typically exported about four-fifths of that amount. May contracts of North Sea Brent, Europe's benchmark crude, jumped $1.74 a barrel to $26.09 in late trading Late trading Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and in London. Contracts of U.S. light, sweet crude for May delivery were trading $1.75 higher at $28.66 a barrel in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Fighting around burning oil wells in southern Iraq's Al Rumeila oil field has driven out civilian oil-fire specialists working to quell the blazes, a top firefighter said. U.S.-led forces had previously thought the field's facilities were secure. Kuwaiti firefighters claimed credit for putting out the first fire at a booby-trapped Iraqi well Monday. Kuwait's senior firefighter, Aisa Bouyabes, said he believes his team and others can douse douse 1 also dowse v. doused also dowsed, dous·ing also dows·ing, dous·es also dows·es v.tr. 1. To plunge into liquid; immerse. See Synonyms at dip. 2. the six remaining fires in Iraq's Rumeila South oil field within two weeks. U.S. and U.K. forces have made a priority of securing Iraqi oil installations to prevent their possible sabotage by Iraqis. Another cause for concern was social unrest in Nigeria that has forced oil companies there to suspend at least 40 percent of the country's production. Royal Dutch/Shell has shut down 370,000 barrels a day in crude output after evacuating facilities in the oil-rich Niger River Niger River or Joliba or Kworra Principal river of western Africa. The third longest on the continent, it rises in Guinea near the Sierra Leone border and flows into Nigeria and the Gulf of Guinea. delta, company spokeswoman Kate Hill said Monday. ChevronTexaco on Sunday evacuated staff and shut most of its installations in the area, suspending production of 440,000 barrels a day. The Niger delta The Niger Delta, the delta of the Niger River in Nigeria, is a densely populated region sometimes called the Oil Rivers because it was once a major producer of palm oil. has suffered civil unrest between rival Ijaw and Itsekiri communities in the run-up to elections in April. Nigeria, which normally pumps about 2 million barrels a day, has now lost more than 800,000 barrels in daily production due to weeks of fighting. Nigeria normally accounts for seven percent of U.S. crude imports. The average U.S. price of a gallon of regular was at $1.705 on Monday, down a fraction of a penny from Sunday. Pump prices have surged as a nationwide strike in Venezuela hobbled the petroleum industry in the fourth-largest supplier of crude-oil to the U.S. Refiners were forced to pay more for alternative supply and passed along higher costs to consumers. |
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