FROM the holy city of Najaf, Iraq, came bad and good news. The American troops attack on the ancient city two weeks ago pumped up the price of oil in the world market. In New York, the crude oil price touched US$46.58 per barrel, nearly hitting its highest price for 21 years. It even almost touched US$50 when Shia militia leader Muqtada al-Sadr threatened to destroy the oil infrastructure in the Land of 1001 Nights.

From Russia, Yukos, the larges