Friday, February 15, 2008
World oil prices advanced on Friday towards $100 per barrel, briefly topping $96
World oil prices advanced on Friday towards $100 per barrel, briefly topping $96, as geopolitical jitters in Nigeria and Venezuela stoked global supply concerns, traders said. New York's main contract, light sweet crude for delivery in March, won 43 cents to $95.89 a barrel, after rising as high as $96.05 -- which was last seen on January 9. Brent North Sea crude for March delivery gained 19 cents to $95.35. Barclays Capital analyst Kevin Norrish said, ''Oil prices have continued their upwards march.'' He added: ''Frequent supply disruptions ... and a broader sense of supply-insecurity brought about by tense relationships between producers and consumers are factors explaining the remarkable strength in oil prices.' Crude futures began surging at the start of the week after Venezuelan President Hugo Chavez threatened to halt oil deliveries to the US.
Subscribe to:
Post Comments (Atom)
Isn't it a shame that even the supposedly objective economic numbers always being bandied-about by market apologists have in fact themselves been dragooned into the service of the armies of capitalist propaganda?
ReplyDeleteEvery week these figures march to a different tune. Depending on which way the winds of economic -- and real -- warfare shift. And we will never have the truth, from at least one side, as long as there is class and intra-class warfare.