Crude oil price climbs above 30 as gulf tensions rise
Crude oil prices surged above 30 as news from the Persian Gulf intensified. October WTI crude rose to 31.43 on the Nymex after reports of ill treatment of hostages and calls to strengthen the multinational force, with traders reacting to potential armed conflict.
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Persian Gulf
West Texas
U.S
New York Mercantile Exchange
Iraq
Kuwait
Otis McKelvey
Odessa
A.G. Edwards & Sons Inc
McKelvey
Iraq tightens exit rules with prison threat for departures
Iraq warned that leaving the country without authorization could bring life in prison as Westerners remain trapped. The Soviet Union floated Kremlin backing for a U.N. force in the Persian Gulf while Washington and Moscow hurried to ready plans for a weekend summit. At the United Nations, Secretary General Javier Perez de Cuellar planned to send an envoy to occupied Kuwait to meet with diplomats whose embassies are surrounded by Iraqi troops.
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Iraq
Soviet Union
Kremlin
U.N
Persian Gulf
Washington
Moscow
United Nations
Javier Perez de Cuellar
Kuwait
Soviets open to U.N. force idea in Persian Gulf talk
A Soviet spokesman suggested Moscow may support a U.N. military force in the Persian Gulf and that Gorbachev could raise the plan with Bush at the summit. He hinted the U.N. Security Council Armed Forces staff could oversee international troops, reviving a 1946 concept.
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Moscow
Kremlin
U.N
Persian Gulf
Mikhail S. Gorbachev
Bush
Foreign Ministry
Gennady Gerasimov
Soviet Union
Gulf
Iraq
Kuwait
Gerasimov
U.N. Security Council
United States
China
Britain
France
United Nations Security Council
Asia
Gorbachev
Gaerne
Tariq Aziz
Odessan Learns Husband Is Safe After Hostage Foray
Odessan Donnita Cole received word from the State Department that her husband John Cole, a 50-year-old drilling vice president with Houston based E Drilling Inc., who was held captive in Kuwait City and moved to a Baghdad hotel, is safe. He sent a brief message saying he is OK in Iraq, implying he is not sick and is surviving.
MENTIONED IN THIS ARTICLE
Odessan
Donnita Cole
Kuwait City
John Cole
E Drilling Inc
Insurance board orders overhaul of agency policies
The Texas State Board of Insurance demoted two regulators for not acting quickly against American Pacer and called for a criminal probe into American Insurance Co while urging a full overhaul of the agency’s examination policies. Travis County District Attorney Ronnie Earle is asked to investigate fraud in the Ameri can Insurance Co failure.
MENTIONED IN THIS ARTICLE
Insurance Board
Ae Ee
Pacer
Odessa Main Street tour weighs city’s Main Street bid
Tracy Cowle and Craig Hunter toured Odessa focusing on downtown revitalization as Texas Main Street program evaluates city eligibility. The Texas Historical Commission notes it is too early to tell if Odessa will join, facing competition from Abilene Oak Cliff Market Square and Valero as other communities applied by July 31.
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Craig Hunter
Odessa
Texas Main Street Urban Program
Texas Historical Commission
Hunter
Abilene
Oak Cliff
Dallas
Market Square
Houston
Valero
San Antonio
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