Crude futures moved above $38 per barrel in New York Monday following a weekend highlighted by an attack on the Saudi Kingdom's vital oil industry.
June crude settled 83 cents higher at $38.21 per barrel while June gasoline gained more than 2 cents to $1.262 per gallon in the wake of a shooting that left five foreign workers dead at a Saudi refinery.
Saudi officials have vowed to defend oil installations against more attacks, however the possibility that the kingdom's petroleum infrastructure was being targeted by "terrorists" appeared to be causing some degree of concern among oil traders. (menareport.com)
© 2004 Mena Report (www.menareport.com)
