Oil prices hit six-month high


	Oil prices hit six-month high

JICWyllie

5-29-2009 1:03 PM

106 views

tags:

1-prices, 2-increase, 2-record, 3-intl, 3-reported

2 Comments |

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5-29-2009 1:12 PM

moviefan09

yo cool

5-29-2009 6:14 PM

jay8h

They have already driven the rest of the world into bankruptcy. What more harm can they do.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e1956a8c-4c3c-48de-b6ee-85f4f2ce69f8/DE9725CA-2406-482F-83CF-46728DEE81B6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html" href="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html"><P><A href="http://www.ft.com/indepth/oil" class="bodystrong">Oil prices </A>on Friday hit $66 a barrel, setting a fresh six-month high and heading for their biggest monthly gain in more than 10 years, following <A href="http://www.ft.com/cms/s/0/7c3b46ee-4b56-11de-b827-00144feabdc0.html" class="bodystrong">Opec’s upbeat comments about oil demand in Asia</A> at its meeting this week.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html"><P>Abdalla El-Badri, Opec’s secretary general, said prices could rise to $70-$75 a barrel by the end of the year. “The outlook is improving,” Mr El-Badri said over breakfast. But added: “The fundamentals are still weak.”</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html"><P>Oil prices gained support from upbeat comments from <A href="http://www.ft.com/cms/s/0/0327ac08-4a92-11de-87c2-00144feabdc0.html" class="bodystrong">Ali Naimi</A>, Saudi oil minister and de facto Opec leader, who on Thursday said: “The price is good, the market is in good shape and the recovery is under way, so what else could we want?”</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html"><P>Adam Sieminski, chief energy economist at Deutsche Bank, said that the rise in the oil  ”market sentiment and oil bullishness seems to us based more on hope than fact.”</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/052adb00-4c37-11de-a6c5-00144feabdc0.html"><P>”The rise has occurred in spite of fairly bearish fundamentals, with poor demand, high supply, brimming inventories, and plenty spare capacity.”</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DE9725CA-2406-482F-83CF-46728DEE81B6/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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