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Worldwide Oil Price Updates


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oiled
Oil falls below $145, awaits Iran response
Oil dropped below $145 a barrel on Friday, but was still within sight of record highs reached in the previous session when traders bought into the market ahead of a holiday weekend in the United States. US crude oil was down $1.40 at $143.89 a barrel by 6:47 a.m. EDT, below an all-time high of $145.85 hit on Thursday. The contract has risen more than 50 percent this year.
 

0 Comments - More Info - Bury   Topic: Worldwide Oil Price Updates (Source: reuters.com)
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oiled
World must brace for oil beyond $150 per barrel
Oil's meteoric rise since the start of the year to nearly $150 has distressed consumers and policy makers the world over, but the stark reality is prices are likely to rise higher still. For two decades, prices were relatively stable, but then they rose seven-fold from a trough below $20 in 2001. Since breaching the $100 mark on the first trading day of this year they have risen around 45%.
 

0 Comments - More Info - Bury   Topic: Worldwide Oil Price Updates (Source: reuters.com)
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Record oil prices bring inflation fears to fore
"A big inflation spook has enormous power - this is the first time people in our generation have felt the full force of oil prices on equities," said Robert Quinn, equities analyst at Standard & Poor's. "We've fallen into the third and final phase of this bear market . . . inflation will dominate concerns for some time."
 

0 Comments - More Info - Bury   Topic: Worldwide Oil Price Updates (Source: ft.com)
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Hyundai Cuts Domestic Car Sales Target as Rising Oil Prices Erode Demand
Hyundai, its affiliate Kia Motors Corp. and other South Korean car makers are facing slowing demand at home as consumer confidence in Asia's fourth-biggest economy slumped to the lowest level in more than seven years in the second quarter. Rising food and oil prices have cut the purchasing power of potential car buyers in Korea.
 

0 Comments - More Info - Bury   Topic: Worldwide Oil Price Updates (Source: bloomberg.com)


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