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Benazir's demise shoots up oil prices
28 Dec '07
1 min read
The afterwaves of Benazir Bhutto's assassination yesterday have come with just as great a shock as the news itself. While pound dropped lower against euro to mark a new record, gold and platinum prices have soared high to reach $1544 and $830, respectively.
According to authentic sources, oil prices also went high after an unforeseen decline in US crude inventories. The situation is further arousing concerns following the mishap concerning Benazir, Pakistani opposition leader.
Nawaz Sharif, the opposition politician, is firm on not participating in the forthcoming elections to be held on January 8. He also demanded an immediate resignation by Pakistan President Parvez Musharraf.
Crude for February rose to add another 21 cents to $96.83 a barrel and the contract rose 65 cents to settle at $96.62 a barrel on December 27.
Further sources reported that gasoline supplies rose by 700,000 barrels, about half the 1.4 million barrel increase experts had anticipated. Moreover, Refinery activity gained 0.3 percent last week to 88.1 percent of capacity which was much lower compared to the expected increase of 0.6 percentage.
According to authentic sources, oil prices also went high after an unforeseen decline in US crude inventories. The situation is further arousing concerns following the mishap concerning Benazir, Pakistani opposition leader.
Nawaz Sharif, the opposition politician, is firm on not participating in the forthcoming elections to be held on January 8. He also demanded an immediate resignation by Pakistan President Parvez Musharraf.
Crude for February rose to add another 21 cents to $96.83 a barrel and the contract rose 65 cents to settle at $96.62 a barrel on December 27.
Further sources reported that gasoline supplies rose by 700,000 barrels, about half the 1.4 million barrel increase experts had anticipated. Moreover, Refinery activity gained 0.3 percent last week to 88.1 percent of capacity which was much lower compared to the expected increase of 0.6 percentage.
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