Daily Telegraph: Japan warns on oil prices after pirates attack tanker off Yemen
By Russell Hotten
Last Updated: 1:00am BST 22/04/2008
Oil and gas prices have hit new highs, spelling more pain for consumers and businesses.
Oil reached a record $117.40 a barrel at one stage yesterday, dragging up the price of gas to a new peak, amid concerns about crude supplies after a Japanese tanker was attacked in the Middle East and militants blew up a Royal Dutch Shell pipeline in Nigeria.
The head of Opec dashed hopes that members of the oil producers’ cartel might help ease prices by opening the taps, telling a conference in Rome that there is no shortage of crude on world markets.