Post by djdon917 on Jun 27, 2008 8:35:47 GMT -5
HOLY shoot HOLY fook
Baku, Fineko/abc.az. Yesterday the price of oil per barrel at the New York Mercantile Exchange exceeded $140 and reached $140.39 per barrel at the moment of closing of bids.
Khabib Khalil, the president of Organization of Petroleum Exporting Countries, stated in this connection that before the end of the summer the oil price can grow up to $170 per barrel in case the European Central Bank increases the rate.
“Price of oil, gold and other primary goods rose after American Federal Reserve System stopped increasing its rate. Dollar fall under such conditions leads to rise in prices for raw materials at the market. Moreover, in the future oil price can jump up to $200 and even up to $400 per barrel if political crisis with Iran leads to stoppage of oil production in this country,” Khalil said.
Recently the European Union has toughened sanctions against Iran because of suspicion of military purposefulness of its nuclear program.
Against the background of the latest events US Congress’s attempts to investigate wildcatters’ intrigues in growth of oil prices are going to become inefficient as well as Saudi Arabia’s investments ($1 bn) in the fund of oil price growth compensation.
Baku, Fineko/abc.az. Yesterday the price of oil per barrel at the New York Mercantile Exchange exceeded $140 and reached $140.39 per barrel at the moment of closing of bids.
Khabib Khalil, the president of Organization of Petroleum Exporting Countries, stated in this connection that before the end of the summer the oil price can grow up to $170 per barrel in case the European Central Bank increases the rate.
“Price of oil, gold and other primary goods rose after American Federal Reserve System stopped increasing its rate. Dollar fall under such conditions leads to rise in prices for raw materials at the market. Moreover, in the future oil price can jump up to $200 and even up to $400 per barrel if political crisis with Iran leads to stoppage of oil production in this country,” Khalil said.
Recently the European Union has toughened sanctions against Iran because of suspicion of military purposefulness of its nuclear program.
Against the background of the latest events US Congress’s attempts to investigate wildcatters’ intrigues in growth of oil prices are going to become inefficient as well as Saudi Arabia’s investments ($1 bn) in the fund of oil price growth compensation.
