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Topic ClosedGazprom guy says Oil will hit 250$ a barrel

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Pawsome View Drop Down
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Direct Link To This Post Topic: Gazprom guy says Oil will hit 250$ a barrel
    Posted: June/10/08 at 3:35pm

The Russians undermined Opec's attempts to talk down the oil market yesterday by warning that crude prices could almost double to $250 a barrel within 18 months.

The prediction from Alexey Miller, chairman of Gazprom, came as the price of oil leaped $2.75 to $137.10 a barrel even though Opec insisted everyone was already "panicking" unnecessarily and stressed there were no shortages.

The soaring value of crude yesterday pushed British wholesale gas prices to new record highs of 100.75p per therm for next winter deliveries. This will put pressure on domestic heating bills, while the current price of motor diesel has already reached £1.30 a litre...


http://www.guardian.co.uk/world/2008/jun/11/saudiarabia.russia
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