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                    [Summary] => As Hurricane "Katrina" ravaged the US south this week, the barrel price of West Texas Intermediate crude oil breached $70. The surge was a repeat of last year, when storms halted oil production in Florida’s offshore wells. WTI sweet crude, like Europe’s Brent, normally fetches higher bids, because easier and cheaper to refine. But Dubai sour, which the Philippines and most of Asia import, also pulled up in petroleum exchanges. From all forecasts, prices worldwide will continue rising. Why?


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                    [AuthorName] => Jarius Bondoc
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BRITONS AND GERMANS

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abtest

What’s driving up oil prices?

By GOTCHA | By Jarius Bondoc | August 31, 2005 - 12:00am

As Hurricane "Katrina" ravaged the US south this week, the barrel price of West Texas Intermediate crude oil breached $70. The surge was a repeat of last year, when storms halted oil production in Florida’s...

Opinion