Mexican Media Brands
Oil Futures Top $50 For First Time in 2016
The price of crude oil has topped $50 per barrel for the first time this year, aided by supply disruptions and increasing energy demand caused by general economic growth.
#economics
Share
The price of crude oil has topped $50 per barrel for the first time this year, aided by supply disruptions and increasing energy demand caused by general economic growth.
Brent Crude, the global benchmark, peaked on Thursday at $50.51 before settling at $49.40. America’s benchmark, West Texas Intermediate, hit $50.21 in intraday trading before finishing at $49.34.
Both prices have gained almost 90% from their 12-year lows last winter. Each was above $100 per barrel in mid-2014. Many analysts expect oil prices will rise to a consistent $50 per barrel in the second half of this year.
But at that price point, they say, North American oil production from shale could reignite, thereby holding down further increases. Some experts predict petroleum prices will slowly increase to about $60 per barrel by the end of 2017.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .