why crude oil prices going up may 2011

why crude oil prices going up may 2011 : Cenk Uygur on Republicans trying to blame President Obama for rising gas prices. They claim he won’t allow domestic drilling which has resulted in the increased cost, but the president claims the attempted revolution in Libya and other unrest in Middle Eastern countries is at fault. Cenk sets the record straight.

news why crude oil prices going up may 2011

Global uncertainty propping oil prices
Geopolitical unrest and draining inventory levels will keep oil and natural gas prices strong but uncertain growth could temper increases, according to a FirstEnergy Capital Corp. outlook. Read More...

Reaction to money policy: Inflation fight takes precedence
The RBI has increased repo rate by 50 bps as against the earlier calibrated trend of 25 bps. The RBI also acknowledges the persistence of high inflation for the first half of 2012. We expect bond yield to continue to be under pressure due to continuous supply, strained liquidity in the system and continuance of the negative stance on inflation. Worries about earnings growth impact owing to impact on end demand, margin compression and expectation of FII selling is expected to keep the equity markets under pressure. Read More...

Oil prices drop on build in U.S. inventories
Crude oil prices dropped by more than $2 US on high inventories, dragging the Canadian dollar with them as US inventories grew more than expected, signalling a slow down in economic growth. Oil futures traded as low as $108.49 US per barrel in New York before settling at $109.26 US Wednesdayon data storage inventories rose by 3.42 million barrels last week. Read More...

Michigan gas prices set new records, but Detroit automakers still seeing car sales rise.
The state's average price of regular gasoline soared to $4.22 a gallon Monday, surpassing the previous record set in summer 2008. Prices in all major Michigan cities spiked between 5 cents and 20 cents a gallon late Monday and early Tuesday. Nationwide, gas prices averaged $3.97 a gallon, still 15 cents from the record set in July 2008. The increase came despite declines Tuesday in the price of crude oil and wholesale gasoline. Read More...

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