Posted on 05/14/2014 6:34:33 AM PDT by wetphoenix
Edited on 05/14/2014 6:35:14 AM PDT by Admin Moderator. [history]
The price of U.S. oil climbed above $102 a barrel Wednesday amid ongoing tensions in Ukraine and an industry report showing crude stocks falling at a key U.S. storage hub.
By early afternoon in Europe, benchmark U.S. crude for June delivery was up 38 cents to $102.08 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract jumped $1.11 to settle at $101.70, its highest close since April 24. Brent crude, an international benchmark, was up 54 cents to $109.78 a barrel on the ICE Futures exchange in London.
(Excerpt) Read more at finance.yahoo.com ...
If you think oil companies just set the price of oil, and there is not competitiveness in the market, why would the oil price ever drop?
How did prices fall to around $10 in the late 1990s?
all I know about oil is what I read on FR and what I pay at the pump
all I know about oil is what I read on FR and what I pay at the pump
He got his job and his education the old fashioned way - cronyism. Cronyism is the way of the old world and it’s come to America in a very big way.
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