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Nutley
Oil Group - Oil News
Oil
price touches a high!
The price of oil has hit the highest level
of recent, affected by big rises in Chinese stocks and rising
shares on the US markets.
The price of US crude rose to $74.15 a barrel before settling
at $73.89 a gain of 98 cents. London Brent was up 86 cents to
$74.19
. . . .
.READ THE FULL ARTICLE AT THE BBC LINK BELOW
BBC
NEWS ARTICLE
- From the BBC NEWS website
More
News - not so hot!
Does
anybody believe that they can predict what is going to happen
to oil prices any more?
Read
the BBC NEWS article
Oil
up on 'supply crunch' warning
Oil prices have risen after the International
Energy Agency (IEA) said
that there could be supply shortages next year once demands pick
up.
Nobuo Tanaka, the IEA's executive director, warned there could
be a "supply crunch".
US light crude for March delivery rose by 65 cents to $38.16 a
barrel. Brent oil added 29 cents to $45.10 a barrel.
Crude prices had jumped on Friday on renewed optimism that a US
stimulus package would revive the economy.
"Currently the demand is very low . . . . .READ THE FULL
ARTICLE AT THE BBC LINK BELOW
BBC
NEWS ARTICLE
- From the BBC NEWS website - 16th
February 2009
Shell
chief warns of further oil falls
The
price of oil and the world economy may fall again before recovering,
warned Jeroen Van der Veer, the chief executive of Royal Dutch
Shell."We have to be prepared for everything", he
said, in contrast to his optimism at Davos last year. "No
bell will ring at the lowest point". At current prices,
Mr Van der Veer said existing production was still profitable,
but it would be challenging to begin new projects in the most
costly areas. As investment shrinks, he agreed with many other
Davos delegates that oil prices would eventually rise, but could
not say when that would be.
Daily
Telegraph - Saturday 31st January 2009
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