Wednesday, 20 July 2011 14:01

Why are crude prices still hiking up?

As we may see, all around the World, crude oil is that number one trade element, of which price won't stabilize. The White Texas Intermediate is raising with 1.22%, $98.69 per barrel. For the European light oil Brent you have to pay $118.32 per barrel. A raising of 0.12%. Can this process be stopped?

Unfortunately, no. First of all, it is summer and in this days, not just in the United States, but all around the world, the current travel season raises the demand of fuel and this makes the consumption of crude even more bigger. This means also for the American stocks a big problem. As statistics showed, the consumption of the last week outclasses the awaited amount with almost 5,2 million barrels.

However, this high demand of crude doesn't seem to change next year either. Chile declared, they wanted to increase their crude imports by 2012 with 300.000 barrels monthly.

Considering the actual fight between the offer and demand, we my imagine how hard it will be even in the near future to calm this process down.

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