Fuel card news: Low crude supplies 'could keep prices high'
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27 July, 10 Disruptions to oil output in the Gulf of Mexico could ensure that the price of the commodity stays close to $80 a barrel for the remainder of 2010, according to a new survey of industry analysts. A poll of experts conducted by Reuters predicted that the cost of crude oil will average $79.44 throughout 2010, with the recent halt in some output caused by Hurricane Alex and tropical storm Bonnie expected to play a central role in keeping prices up. "Strong demand growth, shrinking global inventories and renewed investor interest will lead to higher oil prices in the medium term," said commodity analyst Sven Streitmayer of Landesbank. The forecast came after the US Energy Information Administration claimed in its latest Short-Term Energy Outlook report that the price of West Texas Intermediate Crude will reach $79 in the second half of the year, with both production and consumption set to climb. Find out about the Shell fuel card and start saving now. Posted by James Richmond  |
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