Brent crude edged above $120 a barrel to $120.08, a two-and-a-half-year high.

GeneHunt_2

Oil prices have hit new two-and-a-half year highs as worries continue about unrest in oil producing nations in north Africa and the Middle East.
The price of Brent crude edged above $120 a barrel to $120.08, a two-and-a-half-year high.
US light, sweet crude reached $108.78 a barrel, a 31-month high.
In addition to the recent unrest, hopes of stronger growth in the US and supply problems in western Africa have also helped to push oil prices higher.
"Oil workers in Gabon have gone on strike again today which has hit production," said Joel Hanley, managing editor at Platts.
"As a result the refineries are looking for barrels that currently aren't there and it's all pushing up the oil price."
Supply fears Production by Libya, which is the world's 17th largest oil producer, with a 2% market share, has been almost completely shut down by the conflict there.
There were also reports on Monday that Libyan rebels were advancing towards the oil town of Brega in renewed fighting in the east of the country.
"In the short term, oil prices look very well supported," said Carsten Fritsch, analyst at Commerzbank in Frankfurt.
"The general market sentiment is positive, but we still feel that prices will come down later this year once the supply fears have dissipated."

http://www.bbc.co.uk/news/business-12955973

HAMISH_MCTAVISH

Fabulous news for Aberdeen house prices.

shortchanged_2

HAMISH_MCTAVISH wrote: »

Fabulous news for Aberdeen house prices.

Unfortunately not for the rest of the UK economy.

Graham_Devon

Should see diesel at 1.42-3 within a couple of weeks.

People are starting to lose jobs now because of the high prices. Especially in haulage.

FATBALLZ

HAMISH_MCTAVISH wrote: »

Fabulous news for Aberdeen house prices.

You seem to have misspelt 'Norwegian' as 'Aberdeen'.

PasturesNew

The reason it's possible for Aberdeen houses to rise is they're actually quite cheap compared to most other areas.

Saying one bought a house in Aberdeen, say, 10 years ago and paid the mortgage off in 8 years, perhaps, is a bit of a laugh as they probably only cost £5.45.

mynameisdave

So Pastor Williams was wrong about the $150 a barrel?

Where is Asheron to explain this mystery?

Loughton_Monkey

mynameisdave wrote: »

So Pastor Williams was wrong about the $150 a barrel?

Where is Asheron to explain this mystery?

Shhh!

Hamish is one of "The Elite". He is planning all this.

PeterZ_2

Oil priced in sterling is now at a record high, partly due to high oil prices and partly due to a weak pound.

WISHIWASRICH_2

PeterZ wrote: »

Oil priced in sterling is now at a record high, partly due to high oil prices and partly due to a weak pound.

The impact of the weaker pound, which declined 17% in value in the past two years, means the sterling value of Brent crude oil has risen to a record high of £74.60 per barrel.

http://www.google.com/hostednews/ukpress/article/ALeqM5hDmyIHaicdMYhFRxo9EGH46IPtZg?docId=N0403821301989694019A

Rochdale_Pioneers

And still it climbs! Hit $122 earlier today....