Title: Multiple reasons behind the oil price rise
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Multiple reasons behind the oil price rise
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Content: Multiple reasons behind the oil price rise
Oil prices went up significantly last week. Multiple reasons behind the oil price rise
MERLIN FLOWER | 2010/03/11
In the U.S. there is an over-supply of crude oil in the market, at present. Not that it definitely should but, obviously, the price of oil should slide, right? Well, last week the oil prices closed at $81.79 a barrel. There reason? There isn't one but many. Before that let us look at some data: First, the industry report from the American Petroleum Institute. API report showed: More than expected crude inventories due to more imports.