Oil prices increase after supply disruptions
 22 Apr 2008
Disruptions in the supply of oil has led to soaring oil prices, it has been suggested.
According to Bloomberg, attacks in Nigeria on oil barrels owned by Royal Dutch Shell have pushed oil prices upwards.
The commodity is currently valued at $117.31 (£59.07) a barrel, a slight fall from yesterday's level of $117.83 a barrel - a new record high.
Mark Pervan, senior commodity strategist with Australia & New Zealand Banking Group in Melbourne, told the news source that oil prices are sensitive to supply.
Fund manager at Astmax in Tokyo Tetsu Emori agreed, stating: "The market is finally focused on the supply issues."
Mr Pervan added: "With no established resistance levels in the market, prices seem to move pretty freely upwards, getting to new fresh highs,"
The Oil Firing Technical Association offered tips to safeguard home heating oil from thieves yesterday, after increases in this type of crime.
Click here to view home heating oil price trends.

RSS newsfeed
Stay up to date with our RSS newsfeed with articles for all home heating oil users including market/price news and environmental issues.
RSS newsfeed

Get your FREE instant online quote for home heating oil - we find the cheapest price in your area, saving you time, money and hassle!
More news:
News archive...
© Adfero Ltd
|