BBC World Service
October 8, 2004
1215 UTC
15190 kHz
SIO: 434

BBC WS World Business Report is reporting that oil prices are reaching
all-time highs, with no ceiling in sight. The price of a barrel of crude oil
lept to $52.02 on the New York Mercantile Exchange yesterday, having
breached the $51 level only the day before. The price briefly went above the
$53 mark earlier in the day. The U.S. Energy Department is predicting that
consumers in the North-east United States will be paying $1,223 for
heating-oil this winter, a leap of 28% over last year.