WTI sets another new record

Crude oil prices resumed their rise on Thursday amid continuing worries about the situation on the Turkey-Iraq border after Wednesday’s vote by Turkey’s parliament authorizing the country’s prime minister to approve attacks on members of the Kurdish Workers’ Party in Iraq’s Kurd-controlled northern region.

November contracts for West Texas Intermediate crude on the New York Mercantile Exchange closed at $89.47 per gallon, a gain of $2.07 on the session, after going as high as $89.56 per barrel earlier in the day for a new record.

Meanwhile, Brent crude for December delivery added $1.48 to $84.61 per barrel on the ICE Futures Europe exchange in London.

Nymex November gasoline gained 4 cents to $2.19 per gallon, while December heating oil was up 3 cents to $2.37 per gallon and January natural gas jumped 9 cents to $8.52 per million British thermal units.