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| Economy |
| Brent crude price rises to $67 a barrel |
| 2015-05-05 |
 (IraqiNews.com) Baghdad – On Monday the price of Brent crude has risen to almost $ 67 a barrel, recouping early losses after the Chinese data had set expectations about taking measures to stimulate the second largest economy in the world.According to “Reuters”, “Brent crude rose 39 cents to $ 66.85 a barrel at 08:48 GMT. The world oil prices have seen a significant decline over the past few months, resulting in damage to several countries including Iraq. |
| Posted by:badanov |
| #2 The markets do indeed work nmu. Excellent analysis. |
| Posted by: Besoeker 2015-05-05 06:22 |
| #1 The oil industry, with no help (or put more succinctly, with hindrance) from the Obama administration, has built in a tripwire to prevent oil from going as high as it did ever again. Fracking wells can be restarted in as little as two weeks, inexpensively. As soon as the price gets to about $70.00, the wells can simply be switched on again and any rise in prices will be stopped cold. The oil industry did themselves (and all of us) a favor by defying the alt-energy and environmental extremist supported administration and did the right thing for themselves and for all Americans. Markets really do work. |
| Posted by: no mo uro 2015-05-05 05:49 |