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Tuesday 8th September 2009
Today saw international oil prices climb above $70 per barrel once again, a welcome sight for oil companies.
The rise has been attributed to increased European and US demand for oil, according to Goldman Sachs Group, a leading global financial services firm, and this demand is expected to grow even more in the coming months.Today's rise is the first step on the road to higher oil prices and there is a common view among experts that oil prices will have reached between $75 and $85 a barrel by the end of the year.In contrast to today's price rises, the start of September saw heating oil prices fall by around 1.7 pence per litre over the course of the first week more…
Tuesday 25th August 2009
Earlier this month some of the world's leading economies announced they had finally emerged from the global recession.
In Europe, the world's fifth largest economy, Germany, grew by 0.3% in the second quarter of 2009, the first time it had experienced growth since the same quarter of 2008 more…
Thursday 25th June 2009
As anyone who keeps a close eye on oil prices will know, oil hit a record high price of $147 a barrel in July 2008.
Since then it has fallen sharply hitting a low price of just over $34 per barrel in February this year more…
Thursday 13th November 2008
Few things seem to fluctuate in value as much as the global oil market.
Rarely out of the press, oil prices have an impact on every aspect of our lives from the price of petrol to the cost of food on the supermarket shelves more…
Wednesday 22nd October 2008
The trend we saw in the second quarter continues into this quarter, mainly caused by concerns over the global financial market and the weak dollar.
The hurricane season remained active from the beginning of June through to the end of November, which caused oil prices to firm briefly during July more…