Oct. 26 (Bloomberg) -- Crude oil rose to a record above $91 a barrel in New York on an unexpected drop in U.S. stockpiles and concern that supply from the Middle East may be disrupted.
Inventories last week fell 5.29 million barrels to the lowest since January, the U.S. Energy Department said. New U.S. sanctions against Iran, warnings of a Turkish assault on Kurdish militants in Iraq and a falling dollar helped push prices higher. Brent futures in London reached a record.
``The market has been particularly surprised by that 5 million-barrel drop in crude, that was really one out of left- field,'' said Mark Pervan, a commodity strategist at Australia & New Zealand Banking Group Ltd. in Melbourne. ``As much as we're seeing concern about Middle East stability, it's a dollar-driven story as well. It's a bit of a perfect storm.''
www.bloomberg.com/apps/news?pid=20601087&sid=aVhi.80Bj2oI&refer=worldwide
Its bad news all taxi and limo drivers........ they are going to have to pay much higher gas prices ..... and the taxi drivers are gonna be paying for the GPS system too.
Cheers Jez XX
Posted by Jez at 12:04 AM
Comments
I love every single pic in this blog! you're great!!!! ciao from Italy
Posted by: claudia at October 26, 2007 09:38 AM
$92 ......... now I really should of got one of those little hybrid cars like a Prius....... Oh well....... too late now
Cheers Jez XX
Posted by: Jez at October 26, 2007 10:24 AM
The beast taxi is dead...long live the beast taxi!
Posted by: Psychodudu at October 26, 2007 03:34 PM
Excellent editorial shot...the composition, the color, the lighting.
Posted by: Mindy at October 30, 2007 05:56 PM