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Gulf spill of 210,000 gallons daily may push oil over $100
Published on May 3, 2010 by oilprices · 3 CommentsOil prices could see a sharp rise higher, closing in on the $100 mark again as the huge Gulf oil spill started to affect or shut down other oil rigs in the area and oil supply to the US is disrupted.
The US Gulf of Mexico oil spill took a turn for the worst over the weekend as latest information showed that daily oil leaking from the Deepwater Horizon oil rig disaster could be upto as much as 210,000 gallons each day.
“The potential disruption of oil tanker traffic in the Gulf of Mexico is already having an impact on oil prices.” Goldman Sachs said in a report. “Traffic of oil service boats and oil tankers through the Gulf will likely be slowed.”
Goldman said it expects prices to rise to $94.50 a barrel in three months and to $99 a year from now.
For the moment, crude oil prices remain supported by speculation that the giant oil spill would help draw down US crude oil stocks in the short term, which could send oil prices back over $100, even if only temporarily.
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GS is invested heavily in oil so of course they’ll say the price is going to go up…and then they’ll bet against it going up behind everyone’s back.
Of course, if GS speaks, the lemmings will follow suit, drive the price up and kill the recovery that doesn’t exist.
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oil is on maximum now. Price will domn.
Moskow submarine made this accident to Not to admit a collapse of oil which has grown much more strongly inflation.
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And after all now oil suffices even without development of new chinks which have postponed for time of a stop of leak and finding-out of causes of accident. Stocks on Kushinge on a maximum – 34.6 million barrels!
In general, all is very strange it. Only 2 weeks ago Obama has told that will master new oil-deposits, and here – on you – accident just in that area. Moreover and a panic have begun is artificial to inflate – already with open years it is visible that all is paid, because bosh bear. At first spoke about leak in 5 thousand barrels a day, then 25, but now speak already about 100 thousand barrels a day, adding that some experts so consider (that is one woman has told). Though for one chink such volume is simply physically impossible.
Oil industry workers have inflated the prices, gradually oil consumption starts to fall, Japanese on электромообили change. Chineses already even have felt on themselves a rise in prices and have left in March in negative trading balance for the first time for 6 years!
And here also Obama has wanted to develop new chinks that увелличило extraction.
Present space, unreasonably excited in 5 time inflations in the countries are stronger – the greatest consumers of oil the price can simply fail in times. Time in 4.
Oil oligarchs have felt that has begun to smell fried, and have arranged this accident, and then show. On the blazed path – as with pork грипом pharmacists and with a volcano – autocarriers or railwaymen. But after all effect – a maximum for some months… They in this time wish to lift huge superprofits. At any cost.
Never I will believe in accident of this failure. Already even assumptions that there былла the Russian submarine are come out!