Friday, Mar 30, 2007
Heading towards $70 again!!!
BBC: Iran concerns push oil above $66
Oil prices rose to new six month highs above $65 a barrel on fears of a clash between Western forces and Iran.
Light sweet crude jumped by $1.95 to settle at $66.03 in the US. In the UK Brent crude rose $2.10 to $67.88.
Posted by tyrellcorporation @ 10:22 AM (345 views) Add Comment
2 Comments
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1. C'mon Correction said...
This will have an effect on the next couple of months inflation figures without doubt - at least it should have, depends on the ONS shuffling around in the basket of goods and making endless weighting changes to suit - AGAIN.
All the data from the last two weeks, makes a rate rise in April a 'No-Brainer' (as the Americans would say!). However, as it has been confirmed for definite recently (ex-Governor) that the MPC isn't just influenced by economic data (see the last 7 months way above inflation target!) - who knows. And who knows why Sterling is still as strong as it is?
2. Scott said...
A consortium in the US is most likely responsible for setting up the kidnapping of sailors in Iran to drive up oil prices on a short term basis to spike the prices in oil shares.