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September 7, 2007
crude continues to rise (without any real events)
thanks Aron
Crude rises for fifth day on supply concerns
Crude oil rose for a fifth day after a government report showed a decline in
crude and gasoline inventories. Crude-oil stockpiles dropped for the eighth
time in nine weeks, an Energy Department report yesterday showed. OPEC may
reject calls to increase supplies at its Sept. 11 meeting on concern energy
demand will falter as U.S. economic growth slows. Crude oil futures for October
delivery rose 18 cents to $76.48 a barrel at 2:25 p.m. on the New York
Mercantile Exchange. Prices are up 14% from a year ago.
imagine what will happen if we actually have a huricane? or a cold snap? or a political event? or OPEC decides it wants a new boat?
Posted by Martin at September 7, 2007 4:50 PM
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