Oil Rises $4 on Israeli Army Exercise - WSJ.com: "Oil Rises $4 on Israeli Army Exercise
By TATYANA SHUMSKY and GREGORY MEYER
June 20, 2008 10:08 a.m.
Crude-oil futures jumped Friday as traders mulled a report hinting at a showdown between Israel and Iran and expressed uncertainty over the impact of an international oil summit in Saudi Arabia this weekend.
Light, sweet crude for July delivery was recently up $3.11, or 2.4%, at $135.04 a barrel on the New York Mercantile Exchange after briefly jumping as high as $136.08. The July contract expires Friday. more actively traded August Nymex crude was up $3.22, or 2.4%, to $135.82 a barrel."
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