US Treasury Sec. Snow: oil prices at G7 meeting

US Treasury Secretary John Snow said on Tuesday 28 September that the record high for world crude oil prices will be one of the key issues to be discussed as the Group of Seven (G7) industrialised nations meet in Washington this week.

"Clearly, energy has to be right at the forefront of our concerns at the G7," Snow told a round-table of local business leaders in Reno, Nevada.

Snow called the jump in oil prices on Tuesday a "short-term phenomenon" brought on by geopolitical uncertainties.