Fuel card news: Brent crude 'could top previous price high'
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14 July, 10 The price of Brent crude oil could exceed 2010's current record of $89.58 a barrel, according to an estimate by analysts at London-based financial firm Standard Chartered Bank. A report on the Bloomberg Businessweek website claimed that an e-mailed statement from the company suggested the recent pick-up in oil trading could be sustained well into the second half of the year, forcing costs further upwards. "Last week's upturn in energy markets is starting to add weight to the view that the dips were corrective in nature and the price rally should extend," the message stated, forecasting that Brent crude will rebound to $79.86 in the near term. The commodity has made significant gains over the last fortnight and prices increased by 5.3 per cent on London's ICE Futures exchange last week. Earlier this week, the International Energy Agency predicted that demand for oil will continue to expand in 2011, rising by 1.6 per cent. Find out more about the Shell fuel card and start saving now. Posted by James Richmond  |
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