Monday, October 15, 2007

Crude Oil At US$85/Barrel

Crude Oil has created a new high for itself by crossing US$85/Barrel mark. With winters approaching fast in the northern hemi-sphere along with strong global economic growth coupled with ever increasing dependance on this scarce commodity, is fuelling it's demand, and hence steep prices for this commodity. Agri commodities also are ruling high due to adverse weather patterns in fertile geographic locations, causing severe demand-supply mismatch.
Future for all these commodities looks bright, but for consumers it's a nightmare!