Energy Non-Renewable Environmental Environmental News Global Warming News Peak Oil

Breaking News: Oil Makes Record Single Day Jump in Price

global warming is real logo

The price of oil shot up nearly $11 to close at $138.54 a barrel on Friday.

The sharp increase came as U.S. stocks plunged on news of a four-year high in unemployment. The Dow Jones Index fell 394 points.

Ole Slorer, an analyst for Morgan Stanley, reports that oil could rise to $150 a barrel by July 4th. Other analysts suggest that oil may go as high as $200 a barrel within the next 18 months.

Tensions in the Middle East have helped fuel the sharp rise, including a threat of strike by workers at Chevron’s facilities in Nigeria that would disrupt production and access to oil.

ABC News

I agree to have my personal information transfered to MailChimp ( more information )
Get the latest news and commentary on climate, energy and sustainability delivered every week right to your inbox
We hate spam. Your email address will not be sold or shared with anyone else.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.