Wednesday, May 21, 2008

Crude oil shooting above 133 USD perbarrel

Wow the crude oil hits above 133 uS Dollar perbarrel....

Firstly please forgive me because long time no post the article or anything in my blog.I really busy in my carrier.So now i have much time to post in my blog about the forex,oil and gold...

ok here my new post today...

crude oil hits above 133 USD perbarrel.Why the oil price jumps up?

The fact that refinery production jumped up contributed to the decrease in stockpile of crude oil and continuing a weakening Dollar.What i have seen over the last four days, oil has gained more than $9 per barrel.Here the news..

New York's main oil futures contract, light sweet crude for July delivery, crossed 130 dollars for the first time then hours later raced to a record high of 133.82 dollars after the worrying US energy stockpiles report.

The benchmark futures contract closed a whopping 4.10 dollars higher at a record 133.17 dollars.

In London, Brent North Sea crude for July delivery settled at a record 132.70 dollars a barrel, a gain of 4.86 dollars. Brent hit a record intraday high of 133.34 dollars.

An already rallying oil market was galvanized by the US Department of Energy's weekly snapshot of energy inventories, which unexpectedly showed declines.

source from AFP

Beware,the oil prices will continue to run up untill 180 US Dollar perbarrel for this year.I have heard from someone the crude oil will disappear totally after 3 bigger fire.After that all people in this world will not using oil for their car and maybe no car in road but using horse like the old age.

No comments: