2006-07-18 05:01:38 · 4 answers · asked by jinni 1 in Business & Finance ➔ Other - Business & Finance
1. Demand, world demand goes up everyday.
2.the problems in the Middle East, people that are trading Oil Futures are afraid the trouble will spread.
2006-07-18 05:07:13 · answer #1 · answered by Trapshooter 3 · 0⤊ 1⤋
The primary determinant of oil prices is the oil futures market. Brokers buy and sell oil futures, which determines the price. The brokers bet on future price and demand by looking at what's going on in the world. So, for example, when Hezbollah attacked Israel and Israel responded, oil prices went up. Anything that de-stabilizes the Middle East will make oil prices go up.
2006-07-18 05:07:15 · answer #2 · answered by Farly the Seer 5 · 0⤊ 0⤋
people are greedy...they speculate and push the prices up...
there is no real shortage of oil...not yet...but there may be a shortage in oil refining and the final products
2006-07-18 05:06:12 · answer #3 · answered by KingRichard 6 · 0⤊ 0⤋
check in Google for
peak oil
supply and demand is for us simple folks to believe in!
2006-07-18 05:15:45 · answer #4 · answered by wuwei 6 · 0⤊ 0⤋