Saudis Hike Oil Prices for Asia / Sputnik International

is this why . . . nah, because the gas that is at the pump was purchased for how much?! and they are charging how much this fast?! wow, this is such a reality i cannot even keep track of anymore! Commodity speculators must have the most amazing nerves on the planet! #HatsOff2TodaysCommodityTraders !!!

2012: What's the 'real' truth?

http://sputniknews.com/business/20150304/1019049017.html

1017253571

State-owned oil giant Saudi Aramco has told Asian buyers that prices of Arab Light for April delivery will rise by $1.40 US per barrel, while prices for US buyers will go up by $1 per barrel; the price hikes are far larger than the previous price changes imposed by the Saudis of a few cents either way.

Saudi Arabia is the world’s largest exporter of crude oil, and the largest oil producer in the Organization of Petroleum Exporting Countries [OPEC], which in November sent the oil price plunging when it decided against cutting production from its ceiling of 30 million barrels a day as a way to preserve its market share amid falling oil prices.

This led the price of the industry benchmark Brent crude to continue its fall from a high of $110 a barrel in June 2014; the Saudis and the rest of OPEC made their decision to preserve market share due to increasing output from the US fracking industry. Brent fell to below $50 in January this year, a six-year low, before rallying to its…

View original post 170 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s