Unexpected Demand, Mideast Unrest Push Up Oil Prices

Law360, New York (February 3, 2011, 5:19 PM EST) -- Oil prices are on the rise mostly due to stronger-than-expected demand, though Middle East unrest, the higher costs of developing fields and perhaps speculation have also played a role, experts testified Thursday at a Senate hearing.

Since last September, international oil prices have increased by more than 25 percent, and they just reached $100 a barrel for the first time in more than two years, Richard Jones, deputy executive director of the International Energy Agency, told the U.S. Senate Committee on Energy and Natural Resources....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.