topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2119.44 0.28
DAX 6339.94 0.38
IBEX 30 6543 0.13
CAC 40 3047.94 0.32
FTSE 100 5351.53 0.03
AEX 292.76 0.23
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13154.8 0.36
TSX Composite 11576.47 0.09
ASX 4081.2 -0.61
Hang seng 18713.41 0.25
Straits Times 2772.75 -0.24
ISEQ 20 500.94 1.55
You are here: Home News German News Oil prices rise to record-high USD 143

German News

archive
Enlarge font Decrease font Text size


30/06/2008Oil prices rise to record-high USD 143

Oil prices rise to USD 143 on Monday, as French truckers protest at high fuel costs and block highways around Paris.

30 June 2008
   
LONDON - World oil prices rose to within touching distance of a record-high point of USD 143 on Monday, as French truckers protested at high fuel costs and energy leaders met to discuss soaring crude.

New York crude oil had hit an all-time record of USD 142.99 on Friday as the US currency remained weak. The ailing dollar has fuelled demand for oil, which is priced in dollars, from traders holding stronger currencies.

In early European trading on Monday, London's Brent crude struck a record high USD 143 a barrel, one cent above its previous high reached last Friday.

Brent North Sea oil for August delivery later stood at 142.60 dollars a barrel, a rise of 2.29 dollars from Friday's close.

Meanwhile, New York's main oil contract, light sweet crude for August delivery, jumped by USD 2.35 to USD 142.56 per barrel on Monday, after an intra-day peak of USD 142.94.

Crude futures have doubled in the past year, triggering fears over inflation and slower economic growth.

On Monday, high fuel prices sparked protests among hundreds of truckers across France, blocking main highways and snarling commuter traffic around Paris.

Leading figures in the oil world gather in Madrid on Monday for one of the industry's biggest events that will focus on the future of the sector at a time of unprecedented crude prices.

A week after failing to deflate the price of crude at a summit in Saudi Arabia, the world's biggest oil producers and consumers will get another chance during talks here to explore ways of calming tense global energy markets.

More than 3,000 delegates, including leading corporate and political figures, are attending the four-day World Petroleum Congress (WPC), which runs from Monday to Thursday after an official opening reception on Sunday.

[AFP / Expatica]


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Family in Germany

English Speaking Parents/Playgroups in Bielefeld

Discuss German Culture

anybody try to exchange HK driving license in UK or France

Legal Problems in Germany

What is the cost for filing bankruptcy in Germany?

Relocation to Germany

BUY NOVELTY DRIVING LICENSE,ID CARD, PASSPORT

Irish in Germany

BUY NOVELTY DRIVING LICENSE,ID CARD, PASSPORT

participate in the forums

Inside Expatica
The ABCs of the German school system

The ABCs of the German school system

What you need to know about German schools and daycare.

German immigration and residency regulations

German immigration and residency regulations

Want to move to Germany but haven’t figured out the details? Check out Expatica’s overview of the German permit system.

Driving in Berlin: Rules, habits and fines

Driving in Berlin: Rules, habits and fines

In part one of our two part series, we cover the driving culture in Berlin, where to park and buy gas and, most importantly, the laws.

Looking for work in Germany: The in depth version

Looking for work in Germany: The in depth version

Our comprehensive guide includes information on how to find work, recruitment agencies, employment contracts and labour law.