August 7, 1990 |
The dollar fell against most major currencies Monday, despite a clear risk of military conflict in the Middle East. And that is both unusual and a potent indicator of present and future economic events, financial experts say. Normally the dollar is a "safe haven" currency, bought heavily by foreigners in times of high tension. But in this crisis it has been bought tepidly. "The dollar has been abysmal," remarks Allen Sinai, chief economist of Boston Co.
July 6, 1988 |
Oil traders ignored Iran's outrage Tuesday over the U.S. destruction of an Iranian jetliner, saying the aftermath of the Persian Gulf incident probably would not affect petroleum shipping or inflate prices. On the New York Mercantile Exchange, a sensitive barometer of world prices, the contract for August delivery of West Texas Intermediate crude oil rose 15 cents a barrel to $15.09 in light trading. The exchange was closed Monday for the Independence Day holiday.
January 29, 1988
Iran is considering a pipeline to floating terminals off its central Persian Gulf coast to safeguard its oil from Iraqi air attacks, a London-based newsletter says. The Middle East Economic Digest, in a report to be published Saturday, says Iran may be close to signing a $1.5-billion contract with Italy's Saipem SpA to build the pipeline.
December 11, 1987 |
Iran all but lost its battle Thursday to raise oil prices, and the biggest unresolved question at the year-end meeting of the Organization of Petroleum Exporting Countries appeared to be whether the Iranians will abide by the agreement forged here. Oil ministers stressed late Thursday that no agreement on prices and production was imminent, however.