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Commodities Briefing - Categorized | Oil, Price Watch, Trends more

Petrol prices could rocket amid Middle East unrest

Posted on 23 August 2013

Growing civil unrest across the Middle East could inflate petrol prices by as much as 5p a litre. The Petrol Retailers Association (PRA) warn that conflict in Syria and Egypt, oil port blockades, the reduction of Libya’s oil exports by a third and a growing demand for oil from Asian markets have all impacted prices.
The cost of Brent pushed through the critical $110/barrel level last week which equates to a 10% increase since the end of June………………………………………..Full Article: Source


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