Tag archive for ‘Term Oil’
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 [...]
Oil Prices Surge as Bush meets with Saudi King
London, UK (FT.com): Crude oil prices on Friday hit a fresh record high of almost $128 a barrel boosted by a bullish forecast from Goldman Sachs and as US President George W. Bush asked Saudi Arabia, the world’s largest oil producer, for help to lower skyrocketing energy prices.
Bush, on his second visit to Saudi Arabia [...]
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