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Oil prices hit two-year highs
Member rating: No Rating | Words: | Submitted: Sat Aug 30 2003
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Commentary #: 2 Name: Ana Merino Class: 11 St. Date: February 10th 2003 Word Count: 417 Title of Article: Oil prices hit two-year highs Source: BBC News Online 7/02/2003 Section of Syllabus: 1.2 Resource Allocation in the Market Commentary With the imminent attack on Iraq and the strikes in Venezuela, price of oil has gone up drastically. In these past months the price of oil has gone up due to various causes. One of the reasons is because of the cold winter in the US, stocks of heating oil and gasoline are falling heavily and fuel distributors are beginning to store supplies ahead of a possible war. This is another of the reasons why the price of oil is increasing. Many people think that the attacks on Iraq are forthcoming and the associated risk of unsettling supply has made the price of oil ascend. The third and not less important cause why oil has gone up so much...
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