Price of Oil Moving Up Again
Oil prices just went higher than they have at any point over the last six months. This increase in price is happening because of an oil shortage across the globe – or at least that’s how Goldman Sachs is reporting it. In any case, the price of oil will, as usual in situations like this, fluctuate with gains and losses for a few days before becoming relatively steady.
Seeing as we don’t know when the next huge oil/gas price increase will be, you might want to do what you can to make sure your vehicle is as efficient as possible. Head over to our Mercedes-Benz fuel page to browse and buy control units, fuel pressure regulators, pumps, tanks and more.
Oil prices hit six-month highs on Monday on worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures pared gains.
Expectations of resumption in oil exports from a Libyan port, a ramp up in Nigerian crude production by Exxon Mobil Corp and an improved oil-for-loans deal reached by Venezuela with China furthered the tempered the bullish theme in oil.
U.S. crude futures settled up $1.51 at $47.72 a barrel, at their highest since Nov. 3, when they closed at $47.90.
Brent crude futures were trading at $48.99 per barrel, up $1.13, or 2.36 percent.