Oil jumps to high near $123 a barrel
Below is a summary of the best stories of the energy sector Tuesday afternoon:
The price of oil on the racing $ 122 a barrel
With crude oil futures shot right on the eve of nearly registration as a trader fell on a forecast by Goldman Sachs (nyse: GS - news - people), that prices can go up to $ 150 to $ 200 in within two years. The weakening dollar and rising concerns about declining production in Mexico and Russia also invited prices higher, said one analyst.
Light sweet crude for June delivery jumped to a new record of $ 122.73 per barrel, before $ 1.87 to $ 121.84 at the New York Mercantile Exchange.
Goldman Sachs said Arjun Murti, an analyst of global oil are at the centre of a “Super-Spike” - a first articulated forecast three years ago - although she added that it is not known how far prices could increase .
Separated, the U.S. government has again increased their forecasts short-term price of crude oil and gasoline. The Energy Department is now awaiting the monthly average price of gasoline should level of $ 3.73 per gallon in June, while gasoline regular class is expected that, on average, 3.52 dollars per gallon this year.
At the pump, the average price for a gallon of regular gas slipped 0.1 cents overnight to $ 3.61, AAA and the oil price information service.
June gasoline futures rose 5.26 cents to settle $ 3.1055 per gallon, after a prior record of $ 3126th term trade June heating oil rose 4.7 cents to settle $ 3.3535 per gallon after rising their own portfolio trading record of $ 3.3712. In June natural gas futures fell 2.8 cents to 11.15 dollars paid by 1,000 cubic feet.
Iraq moves within gas deposit auctions
In Iraq, “said ministry of oil, it is postponing the deadline for submitting tenders to develop natural gas, Akkas coveted in the western part of the country until 18 May. The new deadline, after which the ministry said it was unable to attract enough against a proposed two weeks because of a lack of security.
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