24 December 2010

Oil Prices > US$91, On The Way To US$100?

Oil jumps to highest since 2008 crisis

December 24, 2010

NEW YORK, Dec 24 — Oil surged above US$91 (RM282) a barrel to its highest price in more than two years yesterday, as Opec member Libya’s apparent lack of concern over prices prompted some analysts to call for a new year’s run at US$100.

With crude reaching back-to-back 26-month highs, ultra-cold weather stoking demand and depleting US stockpiles at the fastest pace in 12 years, traders are now looking for the Organization of the Petroleum Exporting Countries to signal when it might begin pumping more crude.

Read more here.

P/S: Be ready to go to your nearest petrol kiosk to pump in your car full tank, price be adjusted anytime soon!

2 comments:

1Malaysia Auto Accident said...

BRADER I THINK BETTER BUY A FEW BICYCLE FOR STANDBY WHICH IS MUCH MORE CHEAPER. KA KA KA

NKLpunya said...

Alo brader,

Perhaps, when PR comes to govern, the first law they should pass is to ban all vehicles using petrol in the inner circle of cities and towns, instead everyone must use bicycle or other form of petrol-free transportation! Surely bicycle industry will be a boom. At the same time plenty of more efficient bicycle designs will come out, similar to the car industry at present where car manufacturers come out with various kind of designs and models.

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