Biofuel Promoted as Alternative to Crude due to Increasing Current Crude Oil Prices

After Faith Birol, the chief economist of the International Energy Agency, warned that crude prices worldwide pose a threat to the global macroeconomy, the Global Renewable Fuels Alliance or GRFA is requesting the G20 to pass policies on biofuels in order to decrease the nation’s damaging crude oil dependence. The chief economist recently gave a blunt warning that the world economy may...
read more

Crude oil prices recoup a portion of earlier losses, despite grim global cues

Crude oil prices posted gains on the commodities market, rising from five week low levels in New York, as traders and economists speculated that the sharp declines the fuel exhibited yesterday may have been overdone. The high-profile commodity oil lost more than $5 then on grim reports of increased production levels from OPEC and sky-rocketed borrowing costs in Italy. The almost universal...
read more

US and Iran Tensions May Push Crude Oil Prices to $150 per Barrel

Oil prices globally may increase to more than 150 US dollars a barrel because of growing tensions between the U.S and Iran, said a think tank in South Korea. The report given by the Korean Institute of Finance to the Strategy and Finance’ ministry, showed that there is a chance for oil prices worldwide to rise following the U.S. request for an Iranian crude oil embargo and Iran’s...
read more