Author Topic: Oil Rebounds on Consumption Prediction  (Read 729 times)

Hugo Chavez

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Oil Rebounds on Consumption Prediction
« on: October 09, 2007, 01:43:58 PM »
Bullshit...  I don't know how many times these fucks have predicted a bad winter and how often it turns out opposite...  But I guess I can see now why every freaking year they predict a bad winter ::)

Crude Prices Jump After Government Estimates Global Demand for Oil Will Grow

NEW YORK (AP) -- Oil futures rose sharply Tuesday after the government predicted that a colder winter ahead will help lift worldwide demand for crude during the fourth quarter.
In a monthly report, the Energy Department's Energy Information Administration estimated that global demand for oil will be 1.8 million barrels a day higher in the fourth quarter than it was during the same period last year. The report follows a prediction Thursday from the U.S. National Oceanic and Atmospheric Administration that temperatures in the U.S. will be 1.3 percent colder than last year, although they'll be 2.8 percent warmer than average.

http://biz.yahoo.com/ap/071009/oil_prices.html?.v=17