Experts fear that oil prices may reach $220 a barrel if the crisis continues. According to Nomura Bank’s commodity team, oil prices can reach uncharted heights if the chaos penetrates into the neighboring Algeria.
Oil Prices Ease to Begin the Week
March 1, 2011 By
Even though the threat of conflict still lingers in Libya and now North Korea, oil prices eased somewhat to begin the week which was welcoming news at the gas pumps in the United States and Eastern Europe.
Oil Could Touch the $220 Barrel Mark
February 27, 2011 By
With inflation being a major concern for many of the world’s countries, Libya’s path into a modern civil war has generated reason for increased worry amongst many.
Oil Prices Reach Highest Level in 26 Months
January 2, 2011 By
Friday saw oil prices reaching $92 per barrel, its highest level in 26 months, ending the year with a 15 percent increase with anticipation that demand will cause it to reach three digits in the incoming year. Strong demand in Asia caused oil prices to increase in four months from the $80 level. Crude oil [...]
