Home / Knowledge / News / Textiles / Crude oil price hits another record
Crude oil price hits another record
07
Jun '08
Global crude oil prices are predicted to touch US $150 by the first week of July and this might as well prove itself to be true since prices have already touched $139 on June 6 breaking all the past records.

Prices soared by more than eight percent in a single day and were driven by heightened tension in the Middle East region. This abrupt rise has raised the likelihood of further acceleration of inflation which is even now bringing turmoil in the transportation sector.

Light, sweet crude for July delivery mounted as high as $139.12 on the Nymex, before easing slightly to settle at $138.54, up $10.75. Prices hit a previous record of $135.09 a barrel on May 22, and settled Thursday at $127.79.

Brent crude on the ICE futures exchange also settled $10.15 higher at a record $137.69 a barrel, after hitting an all-time high of $138.12 a barrel.

Must ReadView All

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Larry L Kinn
Suominen Corporation

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

Marten Alkhagen
Swerea IVF AB

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sonam & Paras Modi
SVA

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search