Tuesday, June 9, 2009

Crude Oil prices will Spike says Shell CEO

commodities and crude oil price is particular is may be about to spike , according to Dutch Shell CEO who was heard this morning saying to Bloomberg that ""The economy will turn, demand will come back and the overcapacity of supply will disappear", Jeroen van der Veer says. crude oil prices are how rising to about 68 dollars a barrel still low compared to last summer record high of about 150 dollars a barrel , it seems that there is a rush towards commodities and especially crude oil by countries like China eager to get rid of their mass of US dollar liquidity from fear of hyperinflation scenario , despite that the dollar is gaining ground lately , this is far from being a sign of economic recovery , we are not out of the tunnel yet say experts