NEW YORK --- The past week's sudden surge in oil prices brought to mind the nightmare of shortages, but it's not too likely motorists will be queueing to fill up around the world, analysts say. All it took was a September 14 strike on key oil infrastructure in Saudi Arabia to abruptly leave the world's main supplier producing just half its normal amount. That sent the price of Brent crude flying 15 percent higher in a single day. The price on a barrel of crude has come back down since then and by Friday was trading around $65. Given the slowdown in the global economy and the abundance of crude produced worldwide, the prospect of a $100 barrel, for now, doesn't look too li...
Keep on reading: Despite Saudi turmoil, new oil shock unlikely
from INQUIRER.net https://ift.tt/2NsI0zn
-
MANILA, Philippines --- The National Commission on Muslim Filipinos (NCMF) has announced that the Islamic holy month of Ramadan will start o...
-
Australian opener Matthew Hayden said famously: "All this going around is not aggression. If you want to see aggression, look into Rahu...
-
LUCENA CITY -- Police killed two suspects in a stabbing incident after they allegedly engaged the authorities in a firefight in San Andres t...
No comments:
Post a Comment