Oil price worries about new government

The fever has not yet fallen on the oil markets. After reaching 71,62 dollars during electronic exchanges in London, Monday 17 April, the barrel of Brent North Sea exceeded this record, Tuesday morning, to reach 72 dollars during the first exchanges. In New York, prices also remained very high: light sweet crude rose on Tuesday at 70,88 dollars - higher than the 30 August 2005, when the devastating passage of Hurricane Katrina on the Gulf of Mexico had propelled the barrel at 70,85 dollars in session.

This movement has led to an increase in prices at the pump which worries the French government. The Minister of Economy on Tuesday excluded France Inter, any decline in the internal tax on petroleum products (TIPP), saying that "it is useless." Thierry Breton, however, reiterated that in case of "erratic movements on prices at the pump", he did not exclude "reunite the oil operators to Bercy to ensure that the repercussion is smoothed," as Total had been engaged in September 2005.

Read also: Blu-Ray is green: wheat flour discs

Learn more

Leave a comment

Your email address will not be published. Required fields are marked with *