Total oil head sees no limit to oil speculation, as price rises

10th April 2008, Comments 0 comments

The head of French oil group Total said here on Thursday that there was no limit to speculation in the oil market.

   PARIS, April 10, 2008 - The head of French oil group Total said here on Thursday that there was no limit to speculation in the oil market, as the price of Brent quality North Sea oil hit a record peak in London.
   Christophe de Margerie, who is chief executive of Total, told an
international oil conference here that "it seems that there is no longer any
limit to speculation."
   He said he could not see "how there could be a fall in the price of oil"
unless "there is a major crisis."
   On Wednesday the price of oil hit a record high point in New York, breaking
past 112 dollars per barrel. In London on Thursday the price of Brent quality
North Sea oil hit a record of 109.86 dollars per barrel.

AFP 

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