Home / Knowledge / News / Textiles / Oil prices seem to create a new record every day
Oil prices seem to create a new record every day
09
May '08
Oil prices touched a historic high of US $125 a barrel today as the dollar continued to depreciate. Light sweet crude oil for June delivery rose as high as $125.12 a barrel on the New York Mercantile Exchange before falling down to $124.86 in the afternoon.

The contract rose to a record close of $123.69 a barrel on Thursday. Even Brent crude hit a record with $123.97 a barrel on ICE Futures exchange trading up by $1.13.

For investors commodities like oil is a hedge against inflation and experts believe that the key reason behind rapidly increasing oil prices is weakening dollar which makes it cheaper for overseas investors.

Strong demand for oil from developing countries like India and China have also played a major role in spurring the prices of the commodity and tightening its supply.

However, many oil and gas industry executives believe that prices for crude oil are likely to fall as low as below $100 a barrel by the end of this year.

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search