Tag archive for ‘T Boone Pickens’
FT: Oil Shortage Fears drive futures near $140
Fears of a shortage within five years propelled long-term oil futures prices to almost $140 a barrel, further stoking inflationary pressures in the global economy.
The spot price of Nymex West Texas Intermediate hit a record $130.30 a barrel on Wednesday. On Tuesday investors had rushed to buy oil futures contracts as far forward as December [...]
Reuters: Oil hits record near $130 as supply fears grow
New York, NY (Reuters): Crude oil prices scaled a new peak near $130 a barrel on Tuesday amid deepening worries over tight global stockpiles and signals from OPEC that no additional supplies are forthcoming to ease the crunch.
Billionaire investor T. Boone Pickens said Tuesday he expected oil to hit $150 a barrel this year. The [...]
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