Money | Turkey Turkey's Threats Send Oil to Record High Near $88 Many fear disruption of Kurdish pipelines By Kevin Spak Posted Oct 16, 2007 8:32 AM CDT Copied Gas station attendant Toke Fusi puts up higher gas prices for self service at Menlo-Atherton Shell gas station in Menlo Park, Calif., Wednesday, Sept. 19, 2007. The right side is full service gas prices. (Associated Press) Crude oil hit yet another record today, trading near $88 a barrel over fears that a looming Turkish attack on Northern Iraq would disrupt pipelines in the world’s third-largest oil producer. Turkey’s PM said he expected parliament to approve an incursion to root out PKK militants in the Kurdish region, through which Iraq ships most of its crude. A Sept. 18 attack on the pipeline dropped Iraq’s production last month by 100,000 barrels per day. “It's a strong geopolitical concern,” an analyst told Bloomberg. “The market is pricing in some disruption.” Oil is already up $3 this week, a necessary price hike, OPEC says, given the dollar’s decline. OPEC sells in dollars, but buys many goods in euros. Read These Next Trumps ends trade talks with Canada. Gavin Newsom has filed a massive lawsuit against Fox News. New York Times ranks the best movies of the 21st century. A man has been deported for kicking an airport customs beagle. Report an error