Wednesday, Jul 25, 2007
Sorry david20040_0
Bllomberg: Oil Rises After Report Shows Third Straight Weekly Supply Drop
July 25 (Bloomberg) -- Crude oil rose the most in more than nine weeks in New York after the U.S. government reported a third straight weekly decline in oil inventories and increased refinery operations.
The BBC should just report facts, and not try to speculate........
Posted by kilroy @ 07:57 PM (192 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. planning4acrash said...
And the rest! Remember that a gulf of mexico hurricane can push oil prices up from a low figure to an all time peak of $80/barrel, this could be the quiet before the storm. At this price level without war in Iran, without a hurricane, and we will see $90-100 with ease if either strike. Combine it with a realisation that peak oil has hit and we could see $200/barrel in a few years time. Exponential demand, reduced supply, political instability in producing countries, drilling rigs ageing and at a low supply, refineries at full capacity, infrastructure in general ageing, we're fooked.
2. nearly30 said...
I'm confused - did the BBC just print the final price at the end of trading in London then?
If so - are they always behind on the figures - or have they just got it blatently wrong?
If so - why post the article about 'Oil Prices Fall on Stocks Hope'?
Very very odd indeed!!
3. enuii said...
Just remember that News is always after the event i.e. retrospective, if it wasn't it would be speculation.
Anyway oil is still cheap in reality as there are 159 litres of crude in a barrel, i.e. $80/£2.06 = <£40/barrel or 25 pence/litre plus a little bit for refining costs the majority of the rest is TAX. Enjoy it now for it will be much more expensive in the near future when SUV's / 4x4's will be worthless on the used car market.