Crude oil prices in New York surged above $40 a barrel Thursday for the first time in more than a month after the U.S. Department of Homeland Security signaled terrorists were scheming to disrupt U.S. elections. The rally reinforced the market’s pattern of buying whenever terrorism worries surface, despite government data showing across-the-board builds in petroleum inventories last week. “Credible reporting now indicates that al-Qaida is moving forward with its plans to carry out a large-scale attack in the United States in an effort to disrupt our democratic process,” said Homeland Security Secretary Tom Ridge at a press conference Thursday afternoon. Full Story
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