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Crude oil prices on the rise – chart

This chart provides some long-term perspective on the price of a barrel of crude oil with a long-term view of inflation-adjusted West Texas Intermediate Crude. The chart illustrates that most oil price spikes coincided with Middle East crises and often preceded or coincided with a US recession. 

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Chart of the Day
Thursday, August 29, 2013
Thursday, August 29, 2013

Today’s chart provides some long-term perspective on the price of a barrel of crude oil with a long-term chart of inflation-adjusted West Texas Intermediate Crude. Today’s chart illustrates that most oil price spikes coincided with Middle East crises and often preceded or coincided with a US recession. The logic behind this is that a Middle East crisis can potentially disrupt an already tight oil supply and thereby drive crude oil prices higher. Also, rising oil / energy prices can, among other things, increase costs within the global economy’s supply / distribution chain and thereby contribute to inflation which can in turn encourage governments to halt or reduce any plans to stimulate the economy. As a result of the escalating crisis in Syria along with fears that the crisis could spread to other nations, crude oil prices have begun to spike.

Source: Chart of the Day.

Bahamas Prime Minister Perry Christie spoke on the steps of the Lincoln Memorial in Washington DC August 28 to mark the 50th Anniversary of the March on Washington.

While traditional Eurozone property investment hubs such as Cyprus and Spain continue to languish, Barbados and The Bahamas are among the countries reaping the benefits of the Eurozone’s woes, reports CityAM.com. High-end residential and commercial resorts are springing up to meet soaring demand and experts expect them to prove resilient investments.

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