One Meridian Plaza Workers had been refinishing woodwork in a vacant office earlier in the day and workers left a pile of rags soaked in linseed oil on the floor. The linseed oil oxidized and generated enough heat to ignite the rags, which then set fire to other solvents nearby. Smoke detectors did not cover the entire floor and by the time the fire alarm went off the fire was already well established. After the fire alarm sounded in the building the engineer went up to the 22nd floor to investigate. When the elevator reached the 22nd floor the engineer found heavy smoke
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude