Thursday, February 14, 2008
Oil jumps above 95 usd on supply concerns
Oil jumped above the 95 usd mark, rising by almost two dollars on supply concerns as fears over the state of the global economy take a back seat. At 4.10 pm, New York's WTI crude for March delivery was up 1.86 usd at 95.11 usd a barrel, having earlier hit an intraday high of 95.44 usd. In London, Brent crude for March delivery was up 1.91 usd at 95.23 usd per barrel. With Venezuela cutting exports to Exxon Mobil, due to the oil major's legal action against the state run Petroleos de Venezuela SA, crude markets have remained nervous and well bid above 90 usd in case the situation escalates into a broader export cut from the fourth-largest supplier of oil to the US.
Subscribe to:
Post Comments (Atom)
The delusions of these people over the economic prospects of their failing system would be laughable, if they hadn't damaged and even eliminated so many people over the decades. They deserve everything they're going to get in the coming period of depression and war.
ReplyDelete