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US Oil Prices Rise to Post-Iraq War High
Wednesday August 6, 4:50 am ET

LONDON (Reuters) - U.S. oil prices extended their rally to their highest level since the war on Iraq in March, bolstered by worries about uncertain exports from the country and heavy speculative fund buying, traders said.

On the out-of-hours ACCESS system, U.S. NYMEX light, sweet crude futures climbed 34 cents to $32.56 a barrel by 4:39 a.m. EDT, up seven cents from Tuesday's peak and reaching the highest level since March 18, when prices were in the midst of a pull-back from a pre-war high of $39.99 a barrel.

London's Brent futures were up 35 cents at $30.28 a barrel, having already reached post-war peaks during a more than $1.50 surge on Friday amid heavy speculative fund buying.

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