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14/05/2004
Crude oil prices hit record high
The price of crude oil, boosted by security fears and ever increasing demand from the US and China, has reached another record high – today hitting $41.50 per barrel at the New York Stock Exchange.
The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
However, it has been reported that Saudi Arabia will move to ease the burgeoning oil price by increasing exports by 1.5 million a day. This may also alleviate the pressure of stockpiling; as some nations have been buying up oil but not releasing it to consumers, thereby leaving demand unsated.
Two airlines, British Airways and Qantas announced earlier this week that they would both be adding fuel surcharges to ticket prices in order to cope with the rising cost of jet fuel.
Industry insiders have suggested that the price of oil will continue to remain high throughout the summer but will dip by the end of this year.
(gmcg)
The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
However, it has been reported that Saudi Arabia will move to ease the burgeoning oil price by increasing exports by 1.5 million a day. This may also alleviate the pressure of stockpiling; as some nations have been buying up oil but not releasing it to consumers, thereby leaving demand unsated.
Two airlines, British Airways and Qantas announced earlier this week that they would both be adding fuel surcharges to ticket prices in order to cope with the rising cost of jet fuel.
Industry insiders have suggested that the price of oil will continue to remain high throughout the summer but will dip by the end of this year.
(gmcg)
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25 January 2005
Brent crude reaches two-month high
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Brent crude reaches two-month high
Crude oil pushed to a two month high as trading exceeded expectations today on the London futures markets, as stocks of US heating oil fell. According to Bloomberg a US inventory report on fuel stocks is expected to show a decline in reserves.
15 December 2009
Petrol Price Pump Up Inflation
Growth in the UK inflation rate last month has been attributed to increased petrol prices. Official figures show the consumer prices index (CPI) rose faster than predicted to an annual rate of 1.9%, compared with 1.5% in October. November had the highest recorded figure since May. Inflation is expected to rise next year as VAT charges return to 17.
Petrol Price Pump Up Inflation
Growth in the UK inflation rate last month has been attributed to increased petrol prices. Official figures show the consumer prices index (CPI) rose faster than predicted to an annual rate of 1.9%, compared with 1.5% in October. November had the highest recorded figure since May. Inflation is expected to rise next year as VAT charges return to 17.
07 January 2015
Price Of Brent Crude Oil Drops Below $50
The price of Brent crude oil has dropped below $50 (£33) a barrel for the first time since May 2009. It fell to $49.99 a barrel this morning, however it rose back above $50. Nobuyuki Nakahara, a former oil executive and ex-member of the Bank of Japan's policy board, told Reuters he also expected further price falls.
Price Of Brent Crude Oil Drops Below $50
The price of Brent crude oil has dropped below $50 (£33) a barrel for the first time since May 2009. It fell to $49.99 a barrel this morning, however it rose back above $50. Nobuyuki Nakahara, a former oil executive and ex-member of the Bank of Japan's policy board, told Reuters he also expected further price falls.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
