Monday, August 15, 2005

PEAK OIL

BBC: Oil Tops $67 As US Demand Soars

The US thirst for gasoline and fears of a hurricane have pushed the oil market further into uncharted territory, with prices breaking the $67 mark on Friday.

US light crude closed $1 up at $66.80 a barrel, after hitting $67.10 earlier, while in London Brent crude closed $1.12 higher at $66.50.

Worldwide petrol and gasoline prices are at unprecedented levels.

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