Daily Archives: 2008/10/17

Oil Prices Roller Coaster Ride by the Powers That Be

 Oil prices have dropped sharply in recent weeks with the economic crisis and lower consumption in developed nations. In New York , oil futures fell 8% to $68.57 a barrel Thursday – their lowest level since June 2007. It did move back up to $ 70.88 a barrel by midday but overnight retreated to $69.85 Oil has lost more than half its value since hitting a record $147.27 a barrel in July.

Who Controls Oil Prices? – IMF World Bank – OPEC – Iraq Iran – Investors – New York London – ICE Inter Continental Exchange – here’s a some what disturbing video answer

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