Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Articles Tagged "peak"
Several experts revived earlier predictions about peak oil prices and fall in output as the justification for higher prices in anticipation of supply shortages in the future. Then in the middle of the summer sell-off started. Was peak oil just a multi-billion dollar hoax? For full story, click here