Oil price remained closely at $109 a barrel but would definitely continue leaping in the days to come as the demand for oil is still jumping, despite OPEC's announcements that the world oil market is well supplied. Who will to be blamed for the oil price increase?OPEC claimed it was the US dollar fault......Refiners and some oil traders are being hurt by this oil trend.
Jonathan Kornafel, a director for Asia at Hudson Capital Energy in Singapore, said that “Investment flows have been a factor in the volatility but I can't believe the new investment has taken us to $100 oil” further adding, “The fundamentals are what have gotten us here.”
According to Citigroup analysts Alan Heap and Alex Tonks, Global investments in commodities increased to $400 billion during the first three months of the year 2008. This was told in a note to clients.
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Jonathan Kornafel, a director for Asia at Hudson Capital Energy in Singapore, said that “Investment flows have been a factor in the volatility but I can't believe the new investment has taken us to $100 oil” further adding, “The fundamentals are what have gotten us here.”
According to Citigroup analysts Alan Heap and Alex Tonks, Global investments in commodities increased to $400 billion during the first three months of the year 2008. This was told in a note to clients.
more...
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