Oil Prices Closed Above $100 on Speculation
Wednesday, February 20th, 2008Oil closed yesterday at new record height of $100.10 - a level that had never been seen before. Goldman Sachs have speculated about this for more than two years. In a BBC report then, they said that “.. the oil market… early stages of a ’super spike’, which could push prices as high as $105 a barrel…” However, the oil market finally succumb to these sort of speculations from oil futures trader. Funny enough, this rise was market nothing to do with the numbers but hunch and hear-say. Full BBC story on “Oil prices surge to new records”
