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26 Dec '11, 7am

Peak oil review - Dec 26 | Energy Bulletin: Oil and the Global Economy. Last week the balance of forces moving o...

Published Dec 26 2011 by ASPO-USA , Archived Dec 26 2011 Peak oil review - Dec 26 by Tom Whipple 1. Oil and the Global Economy Last week the balance of forces moving oil prices shifted from concerns about what would happen to demand should the Eurozone falter to worries about supply disruptions. As new waves of unrest flared in Syria, Iraq, Egypt and Kazakhstan, prices rose steadily until by week’s end oil was trading 6.6 percent higher. Some minor improvements in US economic numbers and an unusually large drop of 18.2 million barrels in US commercial petroleum inventories contributed to the price jump. NY oil closed at $99.86 a barrel and London at $107.96. NY gasoline futures also reacted to the news, climbing by 8.8 percent or 20 cents per gallon during the week. The week’s price moves left NY oil about where it was trading in the first two weeks of December before conc...

Full article: http://www.energybulletin.net/stories/2011-12-26/peak-oil...

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