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Raquel Gentry
Randi Monceret
Micah Allen
Lindsey Grimes
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Lisa Allison
Brittani Guerin
Ashley O’Connor
Ashley Asebedo
Katie Haegelin
Lindsey Reed
Desola Awofeso
Katie Hayes
Geormika Richardson
Ashlie Bausley
April Ho
Candice Robinson
Allison Broach
Meredith Johnston
Audra Russell
Kim Brzozowski
Angie Jones
Stephanie Sandt
Keni Burgs
Barbara Kimbrough
Stacy Schroeder
Jamie Burton
Judy Kimbrough
Lindsey Scribner
Holley Cain
Emily Koch
Sarah Smith
Helen Costello
Christy Lubbering
Melody Stroud
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Thursday, April 4, 2002
INTERNATIO)
THE BATTA.
Crude prices up,may g
higher as summer neat
LONDON (AP) — U.S.
crude prices have jumped by 36
percent since the beginning ot
February, and motorists are
likely to see higher prices at the
pump as the peak summer driv
ing season approaches, energy
analysts said Wednesday.
The worsening conflict
between Israel and the
Palestinians continues to roil
world markets, although several
analysts said a possible Iraqi-
led oil embargo against the
United States, Israel’s main
ally, would almost surely fail.
Crude futures prices dipped
after spiking to six-month
highs on Tuesday, when Iraqi
Foreign Minister Naji Sabri
declared in Kuala Lumpur,
Malaysia, that Arab countries
have the right to coordinate
their policies to put pressure
on Israel and its defenders.
Fresh data from the
American Petroleum Institute
showing an unexpected buildup
in U.S. inventories of oil and
gasoline deflated some of the
concern about a potential Iraqi
disruption in crude exports.
May contracts of light, sweet
U.S. crude were 15 cents lower
to close at $27.56 in trading on
the New York Mercantile
Exchange. In London, contracts
of North Sea Brent crude were
down 39 cents to close at $27.27
a barrel on the International
Petroleum Exchange.
Ali Tahghighi, an analyst at
Barclays Capital, said prices
should stabilize, barring a
major escalation in tensions in
the Middle East — home to
two-thirds of the world’s
proven oil reserves.
“I think prices are a bit over
done right now,” he said. "I
don’t think the possibility of a
disruption justifies a continued
increase like the one we’ve seen
in the past few weeks.”
As of the close of business
Tuesday, U.S. crude futures had
surged by 36 percent since Feb. 1.
The increase is even steeper
if measured from when crude
futures bottomed after the
September terrorist attacks.
U.S. front-month futures for
light, sweet crude have bal
looned from an intraday low of
$16.70 a barrel on Nov. 19 to a
high Tuesday of $28.10.
“We think the price is really
too high for the fundamentals,
the economic side of the argu
ment,” said Leo Drollas, chief
economist at the Center for
Global Energy Studies.
Taken by themselves, the
physical supply and demand
for oil would suggest an aver
age price for Brent crude of
$23.50. he said. Drollas argued
that the Israeli-Palestinian con
flict together with uncertainty
about Iraqi supplies has added
“a Middle East premium” of
$3 to each barrel.
Costlier crude is filtering
through to the pump. Drollas
estimates that the U.S. retail
price for unleaded gasoline was
20 percent higher on March 21
than for its average in February.
“The price is not as good as
it was two months ago, but it’s
Spouting prices
U.S. crude prices havew A y-
since the beginning of Feo- | r\ I
and consumers are likelyio
higher prices at the pump:
summer.
West Texas intermediate
Daily spot prices, per barret'
$32
24
16
K
lit
AMJ JASON DJ
2001
' Figures are through Apnl 2,2Wt
SOURCE: Energy Information
Administration
still not going to be hor
said Peter Gignoux. head
petroleum desk at
Smith Barney. He noted
production of gasoline
increased and that retail f
are still lower than last yet
Gignoux also scoffed
idea that Iraq would be af
organize an effective oil eni
go. Iran’s Foreign
Kama! Kharrazi
Malaysia that such a boy
could work it it had bad 3nd n
from many oil producers,
“An Iraqi-led oil embargo
doesn’t impress me at all,
said. “The ‘short-teim-ism
we’re seeing in this market
this rally — is based on
comments by some of!'
world’s most unreliableleadeo
Change
Network,
bring ne<
College E
board pr<
lary anali
Another i
don somi
ability qc
curriculur
will lead 1
standards
With a
percent p
SAT will s
tricts to b
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Sak A&M adm
retention
highest a\
as statisti
than othe
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TU
Irl
Muslim nations unsuccessful
ngEc
inion Ec
defining ‘terrorism’ at meetiffl >/ -s
KUALA LUMPUR, Malaysia (AP) — United
in backing the Palestinians but divided over sui
cide bombings, Muslim nations ended a high-
profile meeting Wednesday that failed to achieve
its main task — defining terrorism.
Instead, foreign ministers and officials from the
57-member Organization of the Islamic Conference
adopted a five-page declaration leaving the job to a
U.N. conference that may never be convened
because of U.S. opposition, delegates said.
Responding to Israel’s escalating military cam
paign, the document absolved the Palestinians of
terrorism allegations, despite Malaysian Prime
Minister Mahathir Mohamad’s proposal that all
attacks targeting civilians — including suicide
bombings — be considered terrorism.
Palestinian and other Middle East delegates said
the bombings were a reaction to
state terrorism by Israel which
has sent tanks and troops swarm
ing through the West Bank and
besieged leader Yasser Arafat.
“We reject any attempt to
link terrorism to the struggle of
the Palestinian people in the
exercise of their inalienable
right to establish their independ
ent state,” the declaration said.
The failure of the meeting to
produce a definition of terrorism
reflected divisions among
Islamic nations at a time when
the world’s 1.2 billion Muslims
are looking to their leaders to
tion, insisted that the members of theory
lion — the world’s foremost Islamic body-
not disagreed over the issue.
“We condemn terrorism in all its font's
manifestations,” he said. ,
The declaration reflected the organizaj
resolve “to combat terrorism to respon
developments affecting Muslims an
countries in the aftermath of the ?P,
attacks,” Syed Hamid said, insisting te
could not be linked to any one culture,c
tion or religion.
During the conference, delegates we _
Islamic definition of tel»
We Battalioi
ml include the
bright to edit
Wat 014 Reed
McDonald,
845-2 6 47
There's a great
deal more to be done
to arrive at a
definition that's
agreed upon and
binding to all
nations.
— Mustafa Ismail
Sudanese foreign minister
over whether an i.->.— -
would be useful, with some saying three
debate were not enough. Others said any
tion that is not globally
would make little di^ er ^ n ^
“There’s a great deal m
be done to arrive at adeti
that’s agreed upon and t -
all nations,” sa.d Su
Foreign Minister Mustafa -
The document f
scathing attack on ^ rae '
ing it of the daily “bnit^
and humiliation’ ot Pa e ^
“We reject any
associate Islamic ■
Palestinian and . Le ^ n t e c1 ;(j
ance with terrorism, >
The nations pledged
the principles
ohnny a
e inemb
ment to
counter what they see as a defamation campaign
since the Sept. 11 attacks. The United States said
the attacks on New York and the Pentagon were the
work of Islamic extremist Osama bin Laden and
his al-Qaida network.
Malaysian Foreign Minister Syed Hamid
Albar, announcing the adoption of the declara-
teachings of Islam
which
aggression, value peace, tolerance
andrespf' 1
T, sCp^or^ an F unpre;eden,ed
plan adopted by Arab leaders i n
week that offered Israel normal rela i
Arab nations if it pulls out from lan
the 1967 Mideast war.
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