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Investor's Business Daily

| May 04, 2004 | COPYRIGHT 2004 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Oil Prices Jump To Late '90 High

1Crude futures rose 83 cents to $38.21 a gallon, the highest close since Oct. '90, after the deadly weekend attack on oil workers in Saudi Arabia. Gasoline futures set another high; natgas futures surged 6%. The average U.S. gasoline pump price rose 3.2 cents over the last week to a new-high $1.844 a gallon, the Energy Dept. said. That is up 33 cents vs. a year ago. More on B13

Fed Seen Prepping For Rate Hike

2Economists don't expect the central bank to raise rates at Tuesday's meeting. But the Fed can lay the groundwork for a move by Aug., possibly even late June. Policy-makers might drop their assurance that they "can be patient" in deciding when to act. They'll also likely signal upside risks are greater than downside risks, noting recent inflation signs. More on this page

7 Punished For Iraq Prison Abuse

3The military reprimanded 7 officers, as 6 more MPs may face criminal charges for alleged abuse at a Baghdad prison. President Bush wants punishment for those guilty of "shameful and appalling acts." U.S. troops in Najaf faced the fiercest attack yet from Shiite militias. The military is expected to name another ex-Saddam general, jailed by Saddam, to take over Iraqi forces near Fallujah.

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