25.03.2011 - Economies in fear of oil price rise fuelled by turmoil
Threatened by Middle East unrest, reduced fuel supply could have very serious implications. Can surging oil prices imperil global economic recovery? Thatís a question increasingly the focus of debate among market strategists. Continued instability in oil-producing states saw Brent crude hit $116 this week, an increase of over 20 per cent since January and well over double the levels recorded just two years ago. The spike saw oil prices close more than three standard deviations above their 50-day moving average recently, something unseen since oil began its multiyear bull run in 1999..............................................Full Article: Source
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