North Sea oil hits record price

[lovuian]

http://news.bbc.co.uk/2/hi/business/4908330.stm

Crude oil prices hit an all-time high in London on fears of growing tensions between Iran, a major oil exporter, and the international community.
Brent North Sea crude oil for delivery in June passed $70 per barrel on fears that the US could launch military strikes against Iranian nuclear sites.

Iran has pledged to carry on enriching uranium to fuel a nuclear reactor.

In the US, crude prices are within $3 of the record price hit last August when hurricanes disrupted production.

Atomic stand-off

Oil prices have surged 13% so far this year, driven mainly by concerns about supplies from Opec members Iran, Nigeria and Iraq.
more...

This crude has to be refined and has impurities so they must be expecting the worse here!!! this is North Sea oil not Saudi Crude

[rodeodance]

1. not good. not good at all.

[rman]

2. Surged 13% this year,

After having surged some 300% during the 10 years or so before.

[Javaman]

3. Here we go, it's begun. The long slide down. nt

[hatrack]

4. Odd - they didn't mention UK North Sea's 5-year production decline . . .

Or that it's been declining at 8% a year, which is pretty speedy.

No, no, it's all just market-driven political worries, that's all . . .

:eyes: