Oil Price Dives After Russia's 'Ceasefire' in Georgia Conflict ; Energy

Evening Standard - London › August 13, 2008

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Summary

THE price of oil fell and the Russian currency soared today after Moscow claimed to have ordered a halt to the military action in Georgia.

Crude had jumped amid concerns about disruption to Western oil supplies from the conflict near the crucial Baku-Tbilisi-Ceyhan pipeline but this afternoon it fell back to three-month lows.

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Extract

Oil Price Dives After Russia's 'Ceasefire' in Georgia Conflict ; Energy

London Brent crude was down 87 cents a barrel at $111.80 while New York was $...

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