Oil price touches high for 2009 - Democratic Underground

steven johnson

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Fri Aug-21-09 04:20 PM
Original message

Oil price touches high for 2009

With oil traders dropping money into oil futures as a hedge against inflation, raising oil prices probably reflect where hedge funds feel they can maximize their profits.

The price of oil has hit its highest level of the year, boosted by sharp rises in Chinese stocks and rising shares on Wall Street.
The price of US crude was up 82 cents at $73.73, after touching $74.15 a barrel. London Brent was up 66 cents at $73.99, after earlier hitting $74.52.
The oil price hit $147 a barrel last July and fell below $74 last October, a level it has not breached since.
Worldwide oil prices have been extremely volatile this year.
Prices have been affected as much by sentiment as by fundamentals of demand and supply.

Oil price touches high for 2009

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imdjh

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Fri Aug-21-09 05:09 PM
Response to Original message

1. I'd like to see oil speculators jump from tall buildings. They are hyenas.

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GliderGuider

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Sat Aug-22-09 06:21 AM
Response to Reply #1

2. Like this?

Edited on Sat Aug-22-09 06:22 AM by GliderGuider

It's all about oil.

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DU AdBot (1000+ posts)

Fri Apr 26th 2024, 09:50 AM
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