Monday, Aug 11, 2008
Strangely coincidental: Have the Russians come to spoil the party or join the pantomime?
AP - Yahoo: Oil near $117 in Asia on Russia-Georgia conflict
Oil prices rebounded Monday in Asia to near $117 a barrel on concerns a widening conflict between Russia and Georgia over a breakaway province could disrupt supplies in the region.
Light, sweet crude for September delivery rose $1.64 to $116.84 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $4.82 on Friday to settle at $115.20 a barrel.
Posted by stevie dee @ 09:34 AM (164 views) Add Comment
1 Comment
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1. Kruador said...
WTI has fallen to $115.41 by now: https://www.theice.com/homepage.jhtml. The last week or so has generally shown falls in early trading in the UK and US, then rallies toward the end of the day in Asian trading. I think it just shows that Asian investors are more optimistic about the price of oil (or derivative commodity indexes) than the West. However, Friday showed falls across the whole day.
UK natural gas is up about 1% on the day so far. I mention it only as others were speculating that this war would have an impact on gas prices.