Oil prices are on the up again. Reasons for rise are supposedly various.
West Texas Intermediate (WTI) is the most important measure of oil prices in the US. It has been rising on recovery prospects in the US economy. With US manufacturing hitting a five month high in August.
Oil inventories in the US have been in decline also, and there are fears of potential supply disruption in the Middle East- this has also boosted the price.
A lot of the price rise has been put down to speculation, as investors predict that the nascent economic recovery will continue.
Seems like the speculators are at it again and we all pay the price.