the fuelcard people

News Categories

previous page

Texaco fuel card news: Oil 'could hit $100 a barrel'

08 April, 10
The price of oil could reach $100 per barrel before the end of the summer, according to a report.

An article in the Independent says speculation has increased after prices reached an 18-month record, with London Brent crude at $86.63 on Tuesday (April 6th) and West Texas Intermediary hitting a peak of $87.09.

David Hunter of energy consultancy firm McKinnon and Clarke said it was unlikely that oil would top $100, saying: "We're seeing a speculative push driven by benign economic news from the US."

Tuesday's trading saw oil at its highest level since October 2008 and soaring charges have led some to suggest that it could put the recovery of the global economy at risk.

The news comes just days after an AA survey found many drivers felt they were being forced to leave their cars at home due to the cost of motoring, with the average price of petrol in the UK tipped to reach 120p in the near future.

Find out more about the Texaco fuel card and start saving now.

Posted by Sean WebbADNFCR-2675-ID-19710440-ADNFCR

Share |

Texaco fuel card news: Oil 'could hit $100 a barrel'